Novele has closed an oversubscribed $17 million Series A to scale its autonomous energy intelligence platform for commercial buildings. Boisei Labs led the round, with participation from Locke Health, Arup Ventures, Barton Malow and several large commercial real estate owners and operators.
Novele combines BoardOS, its AI-powered energy software, with EnergyBoard, a distributed energy storage platform designed for existing occupied commercial buildings.
The company’s system analyzes and controls building power use in real time, allowing properties to respond to changing energy prices, building demand and grid conditions.
Novele is targeting an opportunity created by accelerating electricity demand from AI infrastructure, data centers and advanced manufacturing.
The company believes existing commercial buildings can provide additional grid flexibility by transforming from passive electricity consumers into controllable distributed energy resources.
Novele said it has live deployments with Fortune 50 customers and more than 2,000 buildings engaged across a pipeline totaling 2.6 billion square feet.
The company has also completed large-scale UL 9540A fire testing supporting its UL 9540 listing.
Proceeds from the Series A will support expansion of Novele’s engineering, deployment and commercial teams, installation growth across its active pipeline and continued training and development of BoardOS.
KEY QUOTES:
“Commercial buildings are among the largest consumers of energy in this country, yet most have remarkably little ability to understand, predict, or control how they use power. As electricity demand accelerates, the grid needs flexibility, and there is an enormous amount of it hiding inside the buildings we already have. Novele gives owners the intelligence and control to unlock it while improving cost, resilience, sustainability, and the tenant experience. We’re building that future with an exceptional team and a group of investors and industry partners who recognized this opportunity early.”
Charles Conwell, CEO and Co-Founder of Novele
“Novele represents exactly the kind of technology we believe can create transformative impact at scale. Building owners have a clear economic and operational reason to adopt the platform—lower costs, greater resilience, and more intelligent control of their energy, while every deployment also creates a more flexible and efficient electric grid. The striking alignment across customer value, technological innovation, and broader societal benefit is what made Novele such a strongly compelling investment for us.”
George Perry, President and Founder of Boisei Labs
“Distributed energy systems have the potential to play an important role in how buildings and the grid manage growing power demands, but deploying them safely and efficiently in existing buildings requires solving challenges that go well beyond the technology itself. Our work with Novele is focused on optimizing and streamlining the engineering and deployment process so that safe, distributed energy infrastructure can be deployed more quickly and consistently across the built environment.”
Soroush Jalali, Senior Ventures Manager at Arup Ventures
