Grid intelligence technology company Gridsight announced that it has raised $26 million in a Series B funding round, with proceeds aimed at expanding its platform in the U.S. and Australia to help utilities unlock more capacity from the grid.
Founded in 2020, Sydney, Australia-based Gridsight develops AI-powered grid intelligence software that enables electricity utilities to monitor, manage and optimize distribution networks, using smart meter and network data to improve grid visibility, identify capacity constraints and support the integration of distributed energy resources.
According to Gridsight, the transaction comes as electricity demand is rising after 15 years of stagnant growth, driven by AI data centers, EVs and electrification. With new infrastructure increasingly costly and slow to build, utilities are turning to existing networks, where as much as three-quarters of grid capacity goes unused on average. Gridsight’s platform provides utilities with real-time visibility into available capacity, enabling them to connect more load without waiting for new infrastructure, the company added.
Brendan Banfield, Co-founder and CEO of Gridsight, said:
“The grid’s capacity challenge is not uniform. For the majority of the year, significant capacity exists; but it is uneven, dynamic and geographically dependent. Our platform helps utilities quantify that capacity, connect customers faster and direct investment to the pockets of the grid that maximize its impact.”
Gridsight said that is already working with U.S. utilities, including Xcel Energy and Avangrid subsidiary United Illuminatin. In Australia, Endeavour Energy has deployed the company’s unified capacity management platform for real-time solar management, doubling static household solar export capacity from 5 KW to 10 KW, paired with real-time dynamic control to protect the local grid. The program is expected to unlock more than $100 million in value for customers and 600 MW of additional solar capacity for the grid.
The company said that the new capital will be used to accelerate the U.S. expansion of its AI-driven capacity management solutions and support continued growth in Australia.
The funding round was led by Insight Partners, with participation from Galvanize and existing investors Airtree, Energy Transition Ventures and Aera VC.
Rachel Geller, Managing Director at Insight Partners, said:
“The energy transition is stress-testing utility networks in ways they were never designed to handle. Gridsight’s platform provides the intelligence, visibility, and control needed to unlock latent capacity, connect more load, and stay ahead of demand without waiting for new infrastructure.”
