National Grid Partners (NGP), the investment and innovation arm of National Grid announced Thursday that it has made three new venture capital investments, thus growing its portfolio to 18 companies.
The three new companies are CNIGuard, SparkCognition, and Uniphore, which specialize in the Internet of Things and Artificial Intelligence solutions and could enable National Grid to automate customer processes and further secure its assets.
NGP has invested $102 million in emerging technology companies and fund investments since its inception and is partnering with these companies to deliver a smarter and more renewable energy future.
“We are investing in the technologies that will enable the energy systems of tomorrow,” said Lisa Lambert, National Grid’s Chief Technology and Innovation Officer and the Founder and President of National Grid Partners. “From modernizing our assets, to providing advanced safeguarding and security measures, National Grid is delivering a safer and more seamless energy experience for its customers.”
“National Grid Partners is best-in-class in corporate venturing. They are strong advocates of innovation within the utility sector and have a deep understanding of edge technologies like AI,” said Amir Husain, Founder and CEO of SparkCognition. “They also have the credibility to drive customer engagement for their portfolio companies with industry leaders and the executive relationships within National Grid to effect change and drive meaningful outcomes.”
NGP previously announced its backing of Aporeto, Audio Analytic, AutoGrid, Carbon Lighthouse, ClimaCell, Copperleaf, Dragos, GoCardless, Leap, Omnidian, Pixeom, and Sitetracker as well as limited partnership investments in IQ Capital and Jerusalem Venture Partners. NGP is also a limited partner in the strategic utility technology fund, Energy Impact Fund LP (an Energy Impact Partners fund).
Earlier this year, NGP expanded its Silicon Valley presence by opening an office in San Francisco to invest, incubate, and accelerate early-stage technology companies. NGP will invest $250 million over the next few years in early and growth stage startups.
NGP is participating in DISTRIBUTECH’s Initiate! program, which helps energy industry startups gain exposure to the utility industry. Learn about Initiate! here and register to attend DISTRIBUTECH today. The event takes place in San Antonio, January 28-30, 2020.