GridBeyond, a prominent provider of smart grid and intelligent energy solutions, has successfully secured €52 million in a Series C funding round led by Alantra’s Energy Transition Fund, Klima and supported by both new and returning investors such as Energy Impact Partners, Mirova, Act Venture Capital, ABB, Constellation, and Yokogawa Electric Corporation.
Founded in 2010, GridBeyond enhances energy asset management through AI, aiming to improve sustainability and efficiency in a zero-carbon future. The company plans to use the new funds to advance its technology, expand into new markets, and further develop its Grid Edge Virtual Power Plant capabilities, continuing its significant growth trajectory which has seen revenues increase by an average of 70% annually over the past three years.
Words from those involved in the funding round:
“We are delighted to complete this transaction. This funding, together with the support of our new partners, will enable us to expand our product offering and strengthen our leadership position in this space. The newly completed financing round sets GridBeyond on the path to increase the reach of our intelligent energy platform and deliver world leading AI and powerful automation capabilities to smart grid and energy markets across the world. This supports our ambition to advance the transition of the global energy networks towards digitalisation, decarbonisation, and decentralisation. All while enhancing commercial and operational benefits for market participants through fast-acting automation and optimisation of flexible demand, storage and distributed generation.”
— Michael Phelan, Chief Executive Officer and Co-founder of GridBeyond
“GridBeyond has established itself as a VPP leader across different countries, enabling stakeholders throughout the value chain to optimise energy. We are thrilled to support the company’s expansion and its additional services aimed at guiding customers on their path to achieving net zero-carbon.”
— Bastien Gambini, Managing Partner of Klima
