World : AutoGrid Raises $32 Mn Series D Funding To Expand Its Energy Resources Network

The company plans to utilise the funds to accelerate commercial deployment of its AutoGrid Flex platform

AutoGrid is also hiring professionals specialising in AI, big data, and IoT for its digital transformation projects

AutoGrid is working with the Andhra Pradesh government-owned APSPDCL to create the basis for transformation changes in the electricity sector

Artificial intelligence-based energy optimisation and control provider, AutoGrid, has raised $32 Mn in a Series D funding round from energy companies CLP Holdings Group, based in Southeast Asia, Innogy from Germany, Ørstead from Denmark, and Tenaska from the US. With this round, the company has raised a total of $75 Mn funding.

Autogrid’s existing investors — Energy Impact Partners, Envision Ventures, Total Energy Ventures, Clearsky Power & Technology Fund, E.ON, and Foundation Capital — also participated in the funding round.

Established at Stanford University in 2011, AutoGrid provides a suite of energy Internet applications that allows utilities, electricity retailers, renewable energy project developers, and energy service providers to deliver clean, affordable, and reliable energy in a distributed energy world. It is headquarted in Palo Alto, California, in the US, and its India office is in Bengaluru.

 

Source : https://inc42.com/buzz/autogrid-secures-series-d-funding-to-expand-ai-powered-energy-resources-network/

Smart Grid Bulletin August 2018


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