Climate and Clean Tech | February 10, 2022

Utilidata raises nearly $27 million to digitize and decarbonize the electric grid

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, February 10 — As electric grids encompass distributed sources of renewable energy, from solar to storage to electric vehicles, optimizing their performance has become more complex.

Providence, R.I.-based Utilidata, which works with National Grid and American Electric Power and other utilities, uses real-time data and machine learning and smart sensors to build resiliency in a decentralized, decarbonized grid. 

“We need digital technologies to make the grid more sophisticated, optimized and efficient, especially as we see increased renewable and distributed energy resources,” said Mark Kroese of Microsoft, which invested in Utilidata through its Climate Innovation Fund.

Moore Strategic Ventures, NVIDIA, Keyframe Capital, Braemar Energy Ventures and MUUS Asset Management also joined the round.