Gridware, which makes sensors to evaluate electrical grid integrity and monitor power line hazards, has raised $55 million in a Series B round led by Al Gore's Generation Investment Management. The startup, which emerged from the CITRIS Foundry in spring 2020, plans to expand into Europe, beginning with the United Kingdom. The company's technology has reduced outages by up to 70% in some cases by preventing failures in advance or accelerating restoration after storms, according to CEO Tim Barat. The expansion comes as Ofgem, Great Britain's energy regulator, pursues an £80 billion network upgrade to accommodate increasing renewable power sources and surging data centre demand. Gridware's operational efficiency improvements aim to offset rising network expenses associated with the infrastructure upgrades.

Gridware raises $55M in Growth funding. Gridware, a San Francisco, CA-based grid-technology company, raised $55M in Growth funding. The round was led by Tiger Global and Generation Investment Management with participation from Sequoia Capital, Convective Capital, Fifty Years, True Ventures, Lowercarbon, and Y Combinator. The company intends to use the funds to expand its manufacturing capacity and scale deployment operations. Led by CEO Tim Barat, Gridware is a grid-technology company dedicated to improving safety and reliability on the electrical transmission and distribution systems. Its technology monitors the physical, mechanical, and environmental conditions of utility infrastructure to identify issues early, reduce outages, and support faster restoration. Its pole-mounted Gridscope system enables Active Grid Response (AGR) by measuring mechanical, electrical, and environmental signals and enabling real-time understanding of grid conditions, identifying hazards as they emerge.