Novele, an applied artificial intelligence energy company, has raised $17 million in a Series A financing round aimed at expanding its services across the United States.
Venture capital firm Boisei Labs led the oversubscribed round. Investors also included Locke Health and Arup Ventures, the investment arm of global built-environment consulting firm Arup, according to Commercial Observer.
The financing also drew participation from a national construction firm. The mix of investors links venture capital with organizations operating across the built environment and construction sectors.
For commercial property owners and developers, investment in AI-driven energy services reflects the sector's continuing focus on building operations and energy management. Novele said the new capital will be used to broaden its national reach.
