Utilidata Secures $60 Million to Expand AI-Driven Energy Solutions
Deal News | Apr 29, 2025 | Braemar Energy Ventures
Utilidata, a key player in edge AI technology for energy, has successfully completed a $60.3 million Series C funding round. This significant investment was led by Renown Capital Partners, with contributors including Quanta, NVIDIA, and Keyframe Capital. Citigroup served as the placement agent for Utilidata in this funding. The funds will facilitate the scaling of Utilidata's Karman AI platform, crafted in collaboration with NVIDIA, enhancing power management efficiency and reliability across energy infrastructures worldwide. Notable partnerships with Quanta Services, Deloitte, and technology distribution through Advantech underline the strategic moves of Utilidata. This funding aims to address the challenges posed by growing power demands and the transition to clean energy, highlighting the critical role of AI in modernizing and making the grid more resilient and secure.
Sectors
- Energy Technology
- Artificial Intelligence
Geography
- United States – Utilidata is based in Providence, RI, and the investment involves several US-based companies and partnerships impacting the US energy infrastructure.
Industry
- Energy Technology – The article discusses Utilidata, a company that focuses on advancing energy infrastructure through technology, specifically edge AI.
- Artificial Intelligence – Utilidata's efforts to integrate AI into energy systems places this firmly in the AI industry, particularly in its application to the energy sector.
Financials
- $60.3 million – The total amount raised by Utilidata in their Series C funding.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Utilidata | Target Company | Company | A leader in edge AI technology focused on energy infrastructure. |
| Renown Capital Partners | Investor | Company | Led the $60.3 million Series C funding round for Utilidata. |
| Braemar Energy Ventures | PE Firm | Company | Noted in the title as the private equity firm related to this deal. |
| Quanta | Investor | Company | Participated in the Series C funding round and collaborates with Utilidata on deploying AI technology. |
| NVIDIA | Investor and Technology Partner | Company | Contributor in the funding round and a key partner in developing the Karman platform. |
| Keyframe Capital | Investor | Company | Existing investor in Utilidata involved in the funding round. |
| Citigroup | Placement Agent | Company | Acted as the sole placement agent in the funding round. |
| Advantech | Distributor | Company | Distributes Utilidata’s Karman platform. |
| Hubbell Incorporated | Technology Partner | Company | Integrates Utilidata’s Karman platform into smart meters. |