GridBeyond to double workforce with £9m funding
Energy tech firm GridBeyond has raised £9 million in its latest funding round.
The Watford- and Dublin-based firm said it will double its workforce in the next three years and increase its R&D.
It also plans to increase its market share in the UK & Ireland and establish operations in international markets.
Portuguese utility EDP led the Series B round with other investors including ESB, Act Venture Capital and Total Carbon Neutrality Ventures, the venture capital arm of the Total Group.
Michael Phelan, chief executive and co-founder at GridBeyond, said: “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 demand and distributed generation.”