Grid innovator provides utilities with first-of-its-kind, continuous, real-time monitoring of power lines, leverages data for incident response and more efficient power grid management
January 08, 2025 04:16 PM Eastern Standard Time
SAN FRANCISCO–(BUSINESS WIRE)–Gridware (www.gridware.io), a continuous power grid monitoring solution provider, today announced its Series A funding of $26.4 million led by Sequoia Capital. The funds will empower Gridware to further scale production of Gridscope™ devices and the Gridware monitoring and analytics service, which provides continuous power grid monitoring 24 hours per day to help utilities prepare for and respond to a growing number of risks.
Transforming Grid Protection and Monitoring
Gridware technologies enable a comprehensive service for power utilities to measure, understand, and take decisive action to protect the grid. By leveraging a network of advanced Gridscope sensors and on-device analysis, Gridware continuously monitors key grid assets, providing real-time insights into grid health. The platform ensures uninterrupted monitoring even when power lines are de-energized, thanks to its independent power supply.
With multiple communication methods, including cellular, satellite, and device-to-device networking, Gridware ensures that grid operators receive timely alerts about hazards and faults, no matter when or where they occur. This integrated approach empowers utilities to take proactive action, improve safety, and enhance grid reliability.
The continuous measurements taken of environmental stressors, such as anomalous vibrations caused by tree branches falling on powerlines, feed the Gridscope’s on-device analytics suite and provide game-changing detail for utilities to better manage power delivery assets. Before Gridware, electric utility operators had very little visibility into where to begin looking for faults.
Since implementing Gridscope, some Gridware customers have reduced outage durations by more than 70 percent through a more efficient search process where the technology has helped to quickly identify and address issues. Gridscope units also enable improved asset management, allowing for planned predictive maintenance that can further reduce downtime and outages.
“With Gridscope units placed on power poles, utilities can now identify and address hazards within minutes instead of hours or days, before they result in lengthy outages or life-threatening disasters,” said Tim Barat, Co-Founder and CEO of Gridware. “On one of the hottest days of the year, our technology detected a tree that had fallen onto power lines. Thanks to a notification from a nearby Gridscope, the utility customer quickly addressed the danger, ultimately averting what could have been a catastrophic wildfire. This incident served as a powerful reminder of the vital role Gridware plays in protecting both communities and the environment.”
Barat knows the potentially devastating effects of unmonitored power lines. He previously worked as a lineman in Australia, including during what became known as the Black Saturday bushfires in 2009. That experience led him on the path to create Gridware with fellow University of California-Berkeley graduate students Abdulrahman Bin Omar and Hall Chen.
Following a successful initial pilot with California-based PG&E last year, the pioneering utility has since expanded to a large-scale deployment covering more than 1,000 miles of power lines and 10,000 poles. Today, Gridware is trusted by utilities across North America, which serves millions of customers across ten U.S. states and counting.
“Our country depends on the electric grid, yet until now, utilities have been operating it without reasonable monitoring capabilities,” said Bryan Schreier from Sequoia Capital. “Gridware gives utilities real-time visibility into the health of the grid, allowing them to prevent outages, stop wildfires, and save lives. A more resilient grid, by extension, will lead to a more resilient economy and society, and we are proud to partner with Tim, Hall, and Omar in this next phase of their journey.”
During the past 12 months, Gridware has increased its revenue growth by seven times. This funding round powers Gridware with additional capital to scale its Gridscope manufacturing production, expand its staff, and reach a broader set of utility partners.
Gridware is growing. Visit https://www.gridware.io/careers to see open positions.
ABOUT GRIDWARE
Gridware is a technology company focused on protecting and enhancing the electrical grid. It specializes in monitoring the physical and mechanical aspects of the grid, including external factors that can affect its reliability, such as environmental and physical threats. Gridware’s advanced monitoring system uses high-precision mechanical sensors to detect potential issues early, enabling proactive maintenance and fault mitigation. This comprehensive approach helps improve safety, reduce outages, and ensure the grid operates efficiently. The company is headquartered in San Francisco, California, and is backed by climate-tech and Silicon Valley investors. For more information, please visit www.Gridware.io.
Contacts
MEDIA INQUIRIES:
Keith Metz-Porozni
971-506-7769
[email protected]