Splight, a San Francisco, CA-based AI startup specializing in grid operations technologies, has raised $12 million in seed funding.
Investors
The round was led by noa (formerly A/O), with participation from EDP Ventures, Elewit, Draper Cygnus, Draper B1, Ascent Energy Ventures, Fen Ventures, Reaction Global, Barn Investments, and the UC Berkeley Foundation.
noa is a venture capital firm building Europe’s largest tech fund dedicated to transforming the built world. Launched in 2019, noa closed its first €250m evergreen vehicle with support from major real estate owners, operators, and family offices in Europe.
Splight Use of Funds
The company will use the funding to expand its operations in North America and the EU and enhance its development, implementation, and leadership teams.
About Splight
Founded in 2021 by Thomas Vadora, Fernando Llaver, and Carlos Caldart, Splight is an AI startup specializing in grid operations technologies. Splight has developed new AI-based technology for advanced grid operations that tackles congestion using inverter-based resources (IBRs) as a source of reliability. It aims to solve grid congestion issues and enhance the efficiency of renewable energy integration. Using advanced AI and real-time data, Splight's technology optimizes transmission capacity, reduces energy curtailment, and improves grid reliability.
Funding Details
Company: Splight, Inc.
Raised: $12.0M
Round: Seed Round
Funding Month: July 2024
Lead Investors: noa
Additional Investors: EDP Ventures, Elewit, Draper Cygnus, Draper B1, Ascent Energy Ventures, Fen Ventures, Reaction Global, Barn Investments, UC Berkeley Foundation
Company Website: https://www.splight-ai.com/
Software Category: Grid and Energy Management
Source: https://www.prnewswire.com/news-releases/splight-inc-secures-12m-in-seed-funding-to-tackle-the-energy-industrys-biggest-problem-energy-curtailment-302204685.html