National Grid Partners, the investment and innovation arm of National Grid, announces two new investments in data analytics startups that use artificial intelligence (AI) to protect critical infrastructure.
NGP led both funding rounds with $6 million in combined investment. Since its launch November 2018, the utility industry’s first Silicon Valley-based investment and innovation firm now has put $175 million to work in emerging technology companies and specialty venture funds.
NGP’s newest portfolio additions are:
- Boston-based Aperio Systems, which uses AI and machine learning (ML) to analyze and monitor industrial sensor data in real time. Aperio’s data integrity platform enables customers in industries such as energy, mining and manufacturing to make better-informed decisions, reduce downtime and boost safety and security.
- Silicon Valley’s AiDash uses high-resolution satellite imagery coupled with AI to help utility and energy customers transform operations and maintenance activities like vegetation management, remote monitoring and disaster management. Its technology helps protect distribution grids from overgrown plant life that can spark disruptions or fires.
NGP Director Andre Turenne will join both companies’ boards of directors.