Smart energy firm GridBeyond raises €52m from backers

Company, which uses AI and machine learning to assist organisations to reduce power consumption, closes Series C funding round

GridBeyond chief executive Michael Phelan

GridBeyond, which uses artificial intelligence to help large industrial energy users to streamline power use, has raised €52 million in a new Series C funding round as it gears up for further international expansion.

The smart energy company headed by Michael Phelan, also intends to use the new financing to expand its existing US presence significantly, and continue investment in research and development.

Founded in 2010, GridBeyond works with grid operators to help large, industrialised ...