Smart energy company GridBeyond raises €10.5m
Backers include Energias De Portugal, ESB, Act Venture Capital and Total
GridBeyond founder and chief executive Michael Phelan. The company uses machine learning to help large industries optimise their energy usage
Irish smart energy company GridBeyond has raised £9 million (€10.5 million) in a Series B financing round as it looks to scale the business further and expand into new markets.
The company, formerly known as Endeco Technologies, also intends to use the new investment to double its workforce over the next three years, invest further in research and development, and expand its current offerings.