SMPnet raises $1.4m in seed funding from Marathon Venture Capital and angel investors to scale operations.
Marathon Venture Capital led the seed round to support international growth and product expansion.
SMPnet provides smart technology solutions that enable real-time control and optimisation of power grids. Its software supports the energy transition by managing distributed resources and renewables.
British smart technology firm SMPnet has secured $1.4m in seed funding to support its international expansion and product development. Marathon Venture Capital led the investment, with participation from angel investors including former SSE chief executive Ian Marchant. The capital will enable the firm to scale its operations as demand increases for software that assists grid operators with real-time asset management.
Based in London and Glasgow, SMPnet builds integrated software that connects directly to power grids for adaptive optimisation. The fresh funds will facilitate deeper market penetration across the US and Europe alongside accelerated technology development. The company seeks to address modern grid vulnerabilities introduced by decentralised renewable energy sources and rising power demands.
From the founder
"Our cutting-edge technology revolutionises how power grids are managed across all voltage levels. We are utilising AI-based techniques to enable a net zero future in which power grids are operated dynamically and much closer to real-time while resolving stability issues and effectively ensuring high resilience and security of supply for a better planet. With this funding round from Marathon Venture Capital, we’re excited to double down and continue to realise our vision"
Anastasios Rousis
CEO and co-founder at SMPnet
Investor perspective
"We are excited to support SMPnet on their mission to modernise the power grid through software and AI. By providing a fully integrated solution that connects to power grids and allows for adaptive optimisation and real-time control of energy assets, SMPnet is positioned to revolutionise the industry and meet the growing demand for secure, uninterrupted and cost-effective energy supply. The founders’ expertise in the energy sector gives us confidence in the company’s ability to succeed in the long-term"
Panos Papadopoulos
Partner, Marathon Venture Capital
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Accelerate go-to-market
Investors
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About the company
SMPnet
SMPnet offers smart technology that allows real-time control and optimisation of power grids.