Grid4C, an Austin, Texas-based leader in AI and Machine Learning solutions for the energy industry, raised a $5M in funding.
The round was led by ICV, with participation from iAngels and AxessVentures.
The company intends to use the funds to extend the global reach of its AI solutions, to broaden AI capabilities at the grid edge, extend the current product portfolio, and deepen its AI capabilities as more IoT data becomes available.
Led by Dr. Noa Ruschin-Rimini, Founder & CEO, Grid4C provides SaaS solutions that use smart meter and IoT data to model each meter and endpoint and predict its individual behavior. The models automatically disaggregate and predict usage for appliances behind the meter and are aggregated to deliver predictions for grid assets. By building predictions from the most granular level up, the core technology drives applications ranging from granular load forecasting and distributed energy resources optimization, to the prediction, detection, and diagnostics of faults and inefficiencies for grid assets and home appliances.
The company’s solutions improve operational planning, reduce peak demand, increase energy savings, deliver new revenue streams, and increase customer engagement.
Grid4C is currently working with smart meter vendors to embed its algorithms inside smart meters, at the edge of the grid, where the data is more granular and available in real time.