$2 Million Seed Funding for Smart Grid Artificial IntelligenceApril 17, 2020 by Paul Shepard
Amperon announced the close of $2M in seed funding, led by Blackhorn Ventures with participation from Powerhouse Ventures, Intelis Capital, Garuda Ventures, SK Ventures, V1.VC, Climate Capital, and Kevin Carter; previous investors Notation Capital and Lattice Ventures also joined the round.
Amperon has developed an artificial intelligence (AI) platform that allows electricity providers around the world to view real-time operational intelligence about the state of the grid, and accurately forecast both long-term and short-term electricity supply and consumption.
The growth of distributed resources, renewable intermittency, and demand response programs has forced utilities and suppliers to be more effective operationally, which requires smarter and more dynamic tools. With deep insights from granular smart-meter demand data, Amperon is well positioned to build high-value applications on top of their core product offering while simultaneously expanding geographically.
Amperon is currently active in the ERCOT, AEMO, and PJM grid regions, with plans to expand to many more global grid regions over the coming year.
They had previously raised an $860k pre-seed round in 2018, led by Notation Capital with participation from SV Angel, Lattice Ventures, Ramez Naam, Erik Nordlander, and Chris Wiggins.