The financing round was led by Energias De Portugal with backing from Act Venture Capital, Electricity Supply Board, and Total Carbon Neutrality Ventures.
"The newly completed financing round sets GridBeyond on the path to increase the reach of our intelligent energy platform, delivering world leading AI and powerful automation capabilities to smart grid and energy markets. 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."
— Michael Phelan, Chief Executive Officer and Co-founder
The financing round was led by Foresight Williams Technology to support product rollout and grid balancing services.
"This round comes at an exciting time in markets across the UK, Western Europe and North America. With recent pledges to transition from natural gas in new build properties by 2025 across Europe along with unprecedented volatility in the UK’s electricity balancing market, Mixergy is well positioned to accelerate the low carbon transition through relationships with low cost manufacturing supply chains that cater to a global market."
The investment round was co-led by Lakestar and Dawn Capital with participation from Temasek and Goldman Sachs.
"When we founded Eigen five years ago, I wanted build a research-led transatlantic business. Since the Series A we have made great progress by massively scaling the company, expanding our client base, and integrating cutting-edge machine learning techniques into our NLP product. This new round will allow us to supercharge our growth. 80-90% of the enterprise data in the world today is unstructured information such as text, meaning that most organizations are unable to it unlock its value. With continuing economic uncertainty and the ongoing disruption by data-native companies such as Google, Tencent, and Amazon the imperative to be able to leverage this data is stronger than ever. The new funding will enable Eigen to further its core mission by unlocking the value of our clients’ qualitative data. This will be underpinned by another big investment in our science team, which will double in size so that we can continue to stay at the forefront of machine learning research."
The Series B round was led by AO Proptech and Target Global with backing from Round Hill Ventures.
"It’s a massive market we operate in with very old systems in place. There are long-standing structural barriers that housing companies have to overcome in order to deliver a good tenant experience. By digitising the supply chain we’re creating a larger, more dynamic market of locally-available tradespeople and removing unnecessary manual processes, significantly improving the tenant or leaseholder experience."
