WeaveGrid, a San Francisco, CA-based developer of software solutions for the scalable deployment of electric vehicles (EVs) on the electric grid, raised $15M in Series A funding.
The round was led by Coatue with participation from Breakthrough Energy Ventures and existing investors The Westly Group, Grok Ventures, and angel investors Ramez Naam and Josh Felser. In conjunction with the funding, Coatue’s Jaimin Rangwalla, joined WeaveGrid’s Board of Directors.
The company intends to use the funds to continue to expand operations and its business reach.
Led by CEO Apoorv Bhargavav, WeaveGrid offers vehicle-grid integration (VGI) smart charging solutions that enable utilities to both provide valuable services to their electric vehicle (EV) customers and support the resiliency of the broader grid.
Its charging solutions are now deployed by some of the biggest utilities in the U.S. to lower grid infrastructure costs, integrate more renewables, and save drivers money.
WeaveGrid is a 2021 Global Cleantech 100 company.