GridBeyond, a Dublin, Ireland-based intelligent energy and smart grid platform provider for distributed energy resource management, raised €52M in Series C funding.
The round was led by Alantra’s Energy Transition Fund, Klima, with participation from Energy Impact Partners, Mirova, ABB, Constellation and Yokogawa Electric Corporation as well as investment from existing investor, Act Venture Capital.
The company intends to use the funds to support its international expansion, expand its existing US presence and continue its investment in R&D to facilitate the delivery of a global zero-carbon future.
Led by Michael Phelan and Richard O’Loughlin, GridBeyond is a smart energy company leveraging AI to enable customers to create optimal value from energy generation, demand and storage to deliver a zero-carbon future. By bridging the gap between distributed energy resources and electricity markets, its technology means every connected asset – whether utility-scale renewables generation, battery storage, or energy demand load – can be utilized to help maximize opportunities and enhance the grid.
In 2023, GridBeyond expanded its team across all deregulated markets in the USA, acquired Veritone Business Energy, launched a suite of new products and doubled the size of its team globally. In addition, in the last three years the company has been increasing its annual revenue on average by 70% per year with a forecast of further similar growth in 2024.
FinSMEs
16/04/2024