TLDR:
- GridBeyond, a Dublin-based intelligent energy and smart grid platform provider, raised €52M in Series C funding.
- The funding round was led by Alantra’s Energy Transition Fund and Klima, with participation from other investors.
GridBeyond, a Dublin-based intelligent energy and smart grid platform provider, has closed a €52M Series C funding round. The funding was led by Alantra’s Energy Transition Fund and Klima, with participation from Energy Impact Partners, Mirova, ABB, Constellation, and Yokogawa Electric Corporation, as well as existing investor Act Venture Capital.
The company plans to use the funds to support its international expansion, grow its presence in the US, and further invest in research and development to help deliver a global zero-carbon future. GridBeyond, led by Michael Phelan and Richard O’Loughlin, leverages AI to help customers optimize energy generation, demand, and storage to work towards a zero-carbon future.
In 2023, GridBeyond expanded its team across all deregulated markets in the US, acquired Veritone Business Energy, launched new products, and doubled its global team size. The company has seen significant revenue growth over the past few years, with an average increase of 70% per year and a forecast for similar growth in 2024.
This funding round showcases investor confidence in GridBeyond’s innovative approach to energy management and its commitment to sustainability. With plans for international expansion and continued investment in R&D, GridBeyond is poised to play a significant role in shaping the future of energy management and sustainability.
