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AutoGrid has raised $32 million in a series D funding from a set of energy investors. With this round, the company has raised $75 million.
The new investors include CLP Holdings Group, innogy, Ørstead, and Tenaska. The company’s existing investors - Energy Impact Partners, Envision Ventures, Total Energy Ventures, Clearsky Power & Technology Fund, E.ON and Foundation Capital - also participated in this round.
The current round of $32 million represents the largest infusion to date in any pure-play software platform focused on applying AI to real-time optimisation and control of flexible energy resources, the company said in a release.
This round is led by a global consortium of energy companies, and it includes seven of the 10 largest utilities in North America. The consortium serves over 100 million customers globally and represents $1 trillion in total market capitalisation.
“We are excited by this investment, which will help us to drive forward our mission of accelerating the world’s transition to clean, affordable and reliable energy,” said Amit Narayan, AutoGrid chief executive officer.
AutoGrid builds software applications that utilise artificial intelligence, machine learning, big data and IoT technologies to enable a cleaner distributed energy world.
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