The round was led by Klima and Alantra's Energy Transition Fund to support international growth and product development.
"The newly completed financing round sets GridBeyond on the path to increase the reach of our intelligent energy platform and deliver world-leading AI and powerful automation capabilities to smart grid and energy markets across the world. 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 flexible demand, storage, and distributed generation."
— Michael Phelan, Chief Executive Officer and Co-founder
Estancia Capital Partners led the financing round to support the growth of the UK cash savings platform.
"We selected Estancia based on the strength of their team’s experience in supporting ambitious businesses to transform the shape of the cash management market in the US. At a time when funding capacity is down on a global scale, Estancia’s investment and market expertise provides us with the firepower necessary to really capitalise on the opportunities ahead of us, whether those be through organic growth, partnership and acquisitions, and prompt further consolidation of our market leadership position."
Morgan Stanley Expansion Capital led the Series C round, which will fund international expansion and product development.
"Despite one of the toughest fundraising environments for tech companies in the recent past, this funding round was significantly oversubscribed. Vortexa has doubled its valuation since its Series B funding round in 2021 and, having grown three times faster than the median SaaS business over the last year, is near profitability with an immense untapped market opportunity ahead. It is truly a privilege to partner with Morgan Stanley Expansion Capital. We have been extremely impressed with the caliber of the team, who saw past the complexity of the industries Vortexa serves and recognized our unique opportunity to create value and impact globally. I am excited to work with the Expansion Capital team to build the future of the company."
The funding will support clinical development and drug discovery programmes derived from academic research.
"We are delighted to have completed the second close of our Series C financing in December and thank existing investors for their additional support, as well as welcoming new shareholders to the Company,"
