Investment Led by ICV, Backed by French Energy Giant ENGIE and Other Leading Utilities in Europe and Asia
Grid4C, a worldwide leader in AI and Machine Learning solutions for the energy industry,
announced it has raised a $5M round from a group of strategic investors. The investment
was led by ICV, a venture capital firm focused on industrial technology, backed by French
energy giant ENGIE and other leading utilities in Europe and in Asia. Other investors include
iAngels and AxessVentures.
Ranked the #1 Predictive Analytics Solution for Utilities by GTM Research, Grid4C is working
with the leading utilities on four continents, delivering billions of predictions for millions of
smart meters every day. The company’s analytics solutions leverage a prowess in AI and data
science to provide utilities with granular predictions and actionable insights for their
operations and customer-facing applications.
Grid4C’s award winning SaaS solutions use smart meter and IoT data to model each meter
and endpoint and predict its individual behavior. The models automatically disaggregate
and predict usage for appliances behind the meter and are aggregated to deliver predictions
for grid assets. By building predictions from the most granular level up, the core technology
drives applications ranging from granular load forecasting and distributed energy resources
optimization, to the prediction, detection, and diagnostics of faults and inefficiencies for grid
assets and home appliances. The company’s solutions improve operational planning, reduce
peak demand, increase energy savings, deliver new revenue streams, and increase customer
Grid4C is currently working with the leading smart meter vendors to embed its algorithms
inside smart meters, at the edge of the grid, where the data is more granular and available in
"We are honored to be represented by such strategic players in the global energy industry"
states Dr. Noa Ruschin-Rimini, Founder and CEO of Grid4C. "This is another sign of the
industry’s recognition of Grid4C’s market-leading AI and Machine-Learning based software
solutions to address both grid-side and consumer-side challenges utilities are facing on a
worldwide scale" she adds. “Grid4C is deployed in a wide range of electricity markets,
providing plug-and-play solutions to analyze the massive amounts of sub-hourly data
collected from millions of smart meters and IoT data, and together with customer data,
pricing information and more, produces billions of predictions for utilities' operational and
customer systems every day to better balance supply and demand, engage customers and
Meir Ukeles, Founder and Partner at ICV, shared "We believe Grid4C's AI and Machine
Learning edge and unique capabilities will continue to disrupt the energy industry on a
worldwide scale, as we see happening with AI in other industries."
This funding round provides the capital to extend the global reach of Grid4C's AI solutions. It
will also be used to broaden Grid4C's AI capabilities at the grid edge, extend the current
product portfolio, and deepen its unique AI capabilities as more IoT data becomes available.