Novele Raises $17 Million in Series A Funding to Scale AI-Powered Energy Management for Commercial Buildings

By Nazish Shah • Sat Oct 10 2026

Stamford, Connecticut-based Novele, an AI-driven energy software company, has raised $17 million in an oversubscribed Series A funding round led by Boisei Labs, with participation from Locke Health, Arup Ventures, construction firm Barton Malow, and major commercial real estate owners and operators. The funding will support the company’s national expansion as demand grows for smarter, more efficient energy management solutions across the built environment.

Novele is developing technology designed to transform commercial buildings into intelligent energy assets. Its platform combines BoardOS, an AI-powered energy management system, with EnergyBoard, a distributed energy storage solution. Together, they use machine learning and predictive analytics to optimize building energy consumption based on factors such as weather conditions, occupancy, time of day and seasonal patterns.

According to CEO and co-founder Charles Conwell, the platform uses proprietary optimization algorithms to anticipate energy needs and improve how buildings consume and manage power. Rather than simply reacting to changes in consumption, the system is designed to identify patterns and optimize energy use proactively.

Conwell also highlighted the role of artificial intelligence in advancing the company’s capabilities, explaining that AI enables more sophisticated pre-analysis and early pattern recognition, making energy management more precise and predictive.

Founded in 2015 and relaunched in 2023, Novele operates at the intersection of AI, distributed energy resources and commercial real estate decarbonization. Its approach aims to help building owners improve operational efficiency while supporting wider efforts to reduce emissions across commercial property portfolios.

With the new capital, Novele plans to expand beyond its established Mid-Atlantic customer base, scaling its engineering, deployment and commercial teams to support nationwide growth and meet increasing demand from the commercial real estate sector.

The funding reflects growing investor interest in technologies that connect AI-driven building optimization, energy storage and decarbonization, positioning energy management as an increasingly important part of the future of real estate.