Gridware Raises $10.5M in Funding


Gridware, a Walnut Creek, CA-based provider of a technology platform for utilities to monitor existing grid assets in real-time, raised $10.5m in a seed extension funding.

The round, which extended total funding to $18.8m, was led by Fifty Years and Lowercarbon Capital with participation from True Ventures, Liquid 2 Ventures, Wireframe Ventures, Rebel Fund and AI Sprouts, as well as new investors including TRAC, Kindergarten Ventures, Hawktail, and Convective Capital. Additionally, Gridware recently secured a multi-million-dollar venture debt facility from J.P. Morgan to support operations and expansion.

The company intends to use the funds to continue to expand its business reach to improve their reliability and wildfire mitigation efforts using its technology that is implemented onto existing assets.

Founded in 2020, Gridware provides a technology platform that enables utilities to monitor in real-time their existing grid assets to enhance reliability, improve resilience and reduce wildfire risk.

Since its initial funding, the company has deployed its technology across five states, observed over one million collective hours of field data and added 20 more people to its team.