AutoGrid raises $32 million in series D funding

Our Bureau Mumbai | Updated on September 11, 2018 Published on September 11, 2018

California-headquartered AutoGrid has raised $32 million in a series D funding from a set of energy investors, taking the total raised, including this round, to $75 million.

AutoGrid has 35 per cent of its operations — including Product Engineering and System Integration — being run out of India, and has an R&D centre in Bengaluru.

The new investors include CLP Holdings Group, innogy, Orstead, 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 focussed 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.

Published on September 11, 2018
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