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National Grid Ventures invests in three AI, IoT companies

Image: National Grid

Image: National Grid

National Grid Partners has invested in three more companies, bringing its overall total to 18. The company, the venture capital and innovation arm of National Grid Ventures, has invested in companies CNIguard, US-based SparkCognition and US, India and Singapore-based Uniphore.

The technologies focus on improving day to day efficacy, with Uniphore focusing on recreating customer service using AI-enabled Conversational Service Automation, CNIguard building Internet of Things (IoT) sensors and SparkCognition providing AI solutions.

Amir Husain, the founder and CEO of SparkCognition said that National Grid Partners were the “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. 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.”

National Grid ESO, which became legally separate earlier this year, recently partnered the Alan Turing Institute to improve its solar forecasting by 33% using AI machine learning.

Since it was first created in 2018, National Grid Partners has already invested $102 million in emerging technologies, covering a broad range of areas.

In July, National Grid Ventures completed the US$100 million acquisition of US solar and wind developer Geronimo Energy.

“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.”

The company is planning to invest a further US$250 million in early and growth stage start-ups.

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