Source: Bloomberg
Summary
GridBeyond, a company that coordinates supply and demand to balance the flow of electricity on the grid, has raised $10 million in funding from investors including Samsung Ventures. The company’s hardware and software manages several gigawatts of energy. This investment round was reported on February 27, 2023.
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The launch follows a familiar script.
GridBeyond’s platform is the latest attempt to optimize energy distribution using a combination of hardware and software. The company’s ability to manage several gigawatts of energy has caught the attention of investors like Samsung Ventures. The $10 million funding round is meant to further develop the technology. GridBeyond is essentially creating a smart grid that’s been promised for decades.
Author: Evan Null
