Key Takeaways
- • Novele, a Stamford, Connecticut-based AI-driven energy software company, closed a $17 million Series A funding round led by venture capital firm Boisei Labs, with participation from Locke Health, Arup Ventures, Barton Malow, and major commercial real estate operators.
- • The round was oversubscribed, indicating strong investor demand for autonomous energy management solutions targeting the commercial building sector.
- • Novele's technology stack combines BoardOS (AI-powered energy management software) with EnergyBoard (distributed energy storage hardware), using proprietary machine learning algorithms to optimize energy consumption patterns based on weather, occupancy, and temporal factors.
- • The company plans to deploy capital to expand nationally from its mid-Atlantic customer base, scaling engineering, deployment, and commercial teams to increase market penetration in commercial real estate.
- • Founded in 2015 and relaunched in 2023, Novele addresses the commercial building decarbonization market by enabling buildings to function as autonomous, intelligent energy assets through predictive analytics and distributed storage integration.
Summary
Novele, an applied artificial intelligence energy company headquartered in Stamford, Connecticut, announced the close of a $17 million Series A funding round to accelerate its national expansion strategy. Boisei Labs led the oversubscribed round, with substantial participation from venture capital firm Locke Health, Arup Ventures (the venture investment arm of global built environment consulting firm Arup), national construction firm Barton Malow, and a consortium of major commercial real estate owners and operators. The oversubscription signals institutional confidence in the company's market positioning and technology trajectory.
Novele operates a full-stack autonomous energy platform designed to transform commercial buildings into intelligent energy assets. The technology combines BoardOS, a proprietary AI-powered energy management software, with EnergyBoard, a distributed energy storage hardware system. According to CEO and co-founder Charles Conwell, the platform leverages machine learning and proprietary optimization algorithms to analyze building energy consumption patterns in real time, incorporating external variables including weather conditions, occupancy levels, time of day, and seasonal factors. This predictive capability enables the system to anticipate and optimize energy usage rather than respond reactively to consumption patterns.
The company's origin traces to 2015, when it was initially founded to support net-zero emissions building development. Novele was subsequently relaunched in its current form in 2023, positioning itself at the intersection of distributed energy resources, AI-driven optimization, and commercial real estate decarbonization. Conwell emphasized that artificial intelligence has enabled the platform to conduct sophisticated pre-analysis and early pattern recognition, enhancing the precision and predictiveness of energy management capabilities that were previously embedded in the system through machine learning.
The company intends to deploy Series A funding primarily toward geographic and operational scaling. Novele will expand its engineering, deployment, and commercial teams to support nationwide growth, moving beyond its established mid-Atlantic customer base. The funding also supports increased product delivery capacity to serve a broader commercial real estate portfolio, positioning the company to capture greater market share in the enterprise energy management and building optimization sector.
Novele operates a full-stack autonomous energy platform designed to transform commercial buildings into intelligent energy assets. The technology combines BoardOS, a proprietary AI-powered energy management software, with EnergyBoard, a distributed energy storage hardware system. According to CEO and co-founder Charles Conwell, the platform leverages machine learning and proprietary optimization algorithms to analyze building energy consumption patterns in real time, incorporating external variables including weather conditions, occupancy levels, time of day, and seasonal factors. This predictive capability enables the system to anticipate and optimize energy usage rather than respond reactively to consumption patterns.
The company's origin traces to 2015, when it was initially founded to support net-zero emissions building development. Novele was subsequently relaunched in its current form in 2023, positioning itself at the intersection of distributed energy resources, AI-driven optimization, and commercial real estate decarbonization. Conwell emphasized that artificial intelligence has enabled the platform to conduct sophisticated pre-analysis and early pattern recognition, enhancing the precision and predictiveness of energy management capabilities that were previously embedded in the system through machine learning.
The company intends to deploy Series A funding primarily toward geographic and operational scaling. Novele will expand its engineering, deployment, and commercial teams to support nationwide growth, moving beyond its established mid-Atlantic customer base. The funding also supports increased product delivery capacity to serve a broader commercial real estate portfolio, positioning the company to capture greater market share in the enterprise energy management and building optimization sector.
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