Grid Edge Expands with £2.8 Million Funding
Deal News | Apr 03, 2025 | Business Cloud
Grid Edge, a Birmingham-based company, has secured over £2.8m in funding to expand its operations and customer base. The company uses AI-powered software to reduce carbon emissions and energy costs in commercial buildings. With a current workforce of 28, Grid Edge plans to create 15 new roles in sales, customer support, and technical areas. The financing was provided by the Midlands Engine Investment Fund II, Mercia Ventures, Centrica, bp Ventures, and private investors. Subject to approval under the National Security and Investment Act, the funding will enable Grid Edge to enhance its platform used by major commercial buildings and facilities management companies. The company aims to increase its customer locations significantly and continues to see growth in its annual recurring revenue.
Sectors
- EnviroTech
- Artificial Intelligence
- Energy Management
Geography
- United Kingdom – Grid Edge is based in Birmingham, and its platform is used in significant UK locations such as Birmingham's Bull Ring shopping centre and London's Royal Opera House.
Industry
- EnviroTech – Grid Edge is involved in developing technology that promotes environmental sustainability and efficiency, particularly in reducing carbon emissions in commercial buildings.
- Artificial Intelligence – Grid Edge's platform leverages AI to optimize energy usage in buildings, providing data-driven insights and recommendations.
- Energy Management – The company focuses on reducing energy costs and improving efficiency in building operations, aligning with the energy management industry.
Financials
- £2.8 million – The total funding raised by Grid Edge in the current round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Grid Edge | Target Company | Company | A Birmingham-based company providing AI-powered software to reduce carbon emissions and energy costs in commercial buildings. |
| Midlands Engine Investment Fund II | Investor | PE | A local investment fund providing growth capital for businesses in the Midlands. |
| Mercia Ventures | Investor | PE | A venture capital firm participating in the funding round for Grid Edge. |
| Centrica | Investor | Company | A multinational energy and services company investing in Grid Edge. |
| bp Ventures | Investor | PE | The venture arm of BP, investing in advanced technologies and innovative companies. |
| Private Investors | Investor | Investor | Unspecified private investors involved in the funding round. |