National Grid invests in three tech firms
The venture capital arm of National Grid, National Grid Partners, has invested in three new tech start-ups.
National Grid Partners (NGP) is investing in CNIGuard, SparkCognition, and Uniphore, enabling National Grid to automate customer processes and further secure its assets.
It has now invested $102 million in emerging technology companies and fund investments.
UK and US based CNIGuard, its most recent investment, builds ruggedized internet-of-things (IoT) cloud sensors, delivering asset protection and management solutions for utility-critical infrastructure.
Texas-based SparkCognition offers a platform that provides AI systems to enable customers to weave AI into their organizations.
Its final investment Uniphore offers customer service tech through AI-enabled ‘conversational service automation’.
The latest additions bring National Grid Partners’ portfolio to 18.
“We are investing in the technologies that will enable the energy systems of tomorrow,” said Lisa Lambert, National Grid’s chief technology and innovation officer and the founder and president of National Grid Partners.
“From modernizing our assets, to providing advanced safeguarding and security measures, National Grid is delivering a safer and more seamless energy experience for its customers.”
Amir Husain, founder and CEO of SparkCognition added: “National Grid Partners is best-in-class in corporate venturing. They are strong advocates of innovation within the utility sector and have a deep understanding of edge technologies like AI,” said
"They also have the credibility to drive customer engagement for their portfolio companies with industry leaders and the executive relationships within National Grid to effect change and drive meaningful outcomes.”