AutoGrid Systems, a Redwood City, CA-based provider of energy internet applications, raised a Series C-2 funding round from Total Energy Ventures (TEV), the corporate venture arm of Total S.A. (NYSE: TOT).
The amount of the deal was not disclosed. TEV joined a consortium of other investors which invested $20m in May.
The company intends to use the funds for further development of its applications.
Led by Dr. Amit Narayan, CEO, AutoGrid builds software applications that enable a smarter Energy Internet. Its suite of Energy Internet applications allows utilities, electricity retailers, renewable energy project developers and energy service providers to deliver energy by managing networked distributed energy resources (DERs) in real time and at scale. AutoGrid applications are all built on the AutoGrid Energy Internet Platform (EIP), with patented Predictive Controls™ technology that leverages petabytes of smart meter, sensor and third-party data, along with data science and computing algorithms, to monitor, predict, optimize and control the operations of millions of assets connected across global energy networks.
The company’s solutions are used by leading energy companies, including E.ON, Bonneville Power Administration, Florida Power & Light, Southern California Edison, Eneco, Portland General Electric, CPS Energy, New Hampshire Electric Cooperative, NextEra Energy and CLEAResult.