Grid AI firm Invenia pockets USD 5m Series A funds

Invenia has raised USD 5 million (EUR 4.6m) in a Series A round, the creator of a machine learning platform for power grid optimisation announced today.

Silicon Valley artificial intelligence (AI)-focused venture firm Zetta Venture Partners led the investment round.

Invenia explains that its technology helps trim carbon dioxide (CO2) and particulate emissions by improving the planning process used to operate the power grid. The platform makes autonomous decisions using pattern recognition and prediction algorithms. It studies patterns in power supply and demand, renewable generation and electricity price.

“Our partnership with Zetta will help us to continue scaling our contributions to both AI and grid efficiency,” said Invenia CEO and co-founder Matthew Hudson, adding that the long-term mission goes beyond electricity.

The company, which has offices in Canada and the UK, partners with major universities such as Cambridge University.

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