WeaveGrid, a San Francisco, CA-based software company that builds data products to enable rapid electric vehicle (EV) adoption, raised $35M in Series B funding.
The round was led by Salesforce Ventures, with participation from Activate Capital, Collaborative Fund, Emerson Collective, and MCJ Collective, Breakthrough Energy Ventures, Coatue, Grok Ventures, and The Westly Group.
The company intends to use the funds to support expanded product capabilities for utilities, deepen engagement with automakers, and enhance the driver experience at a critical time for electric vehicles and the power grid.
Led by CEO Apoorv Bhargava, WeaveGrid is a software company building data products to enable the electric transportation transition. Its SaaS platform leverages machine learning capabilities and driver engagement tools to support EV charging optimization. It connects electric vehicles to an electric grid. It uses data science and optimization to bring value to all stakeholders in this transition, including utilities, automakers, and drivers.
Leading U.S. utilities, including Pacific Gas and Electric Company (PG&E), Xcel Energy, and Exelon Utilities, deploy WeaveGrid’s software solutions to lower grid infrastructure costs, integrate more electric vehicles, and save drivers money. The company recently announced a project with PG&E in California, which has the most EVs on its grid of any utility in the country.
FinSMEs
15/11/2022