GridBeyond secures €6m in debt financing from Claret Capital to fund international expansion.
The Dublin-based energy management startup has raised €6m in a debt facility led by Claret Capital.
≈ £5.3M at €1 = £0.8766 on 10 Oct 2022
GridBeyond provides an intelligent energy and smart grid platform that uses artificial intelligence to manage distributed energy resources and optimise power consumption.
GridBeyond has secured €6m in a debt financing facility led by Claret Capital. The Dublin-based energy management startup will use the capital to support international expansion and team growth.
The latest debt facility brings the company total capital raised to €16m, following previous backing from investors including Energias de Portugal, Electricity Supply Board, Total Carbon Neutrality Ventures, and Act Venture Capital.
From the founder
"We are delighted to be working with Claret Capital. GridBeyond is at an exciting juncture in its evolution, scaling rapidly over the last years with a further 85% forecast revenue growth in 2023. This partnership enables us to continue apace with our Global expansion plans. It will further allow the Company to strengthen our position in the market and provide new opportunities to our customers not only to bolster their energy resilience and mitigate against high and volatile energy costs but to make cost savings that can be further invested into actions that support their net-zero transition."
Richard O'Loughlin
Chief Operating Officer at GridBeyond
Investor perspective
"Helping transform energy into revenue opportunities for businesses, the team at GridBeyond blends problem-solving with groundbreaking technology. Their exponential growth impressed us, and we’re excited to join Michael, Richard, and the team with the newly launched Claret Capital fund. We look forward to supporting them on their growth journey as they continue to drive change in the energy sector."
David Bateman
Managing Partner, Claret Capital
Use of funds
- 01Expand into international markets
- 02Grow the team
Investors
About the company
GridBeyond
An intelligent energy platform provider using artificial intelligence for distributed energy resource management.