Grid Edge Raises £2.8M in Funding
Summary
Grid Edge, a Birmingham, UK-based company whose AI-powered software helps reduce carbon emissions and energy costs in commercial buildings, raised £2.8m in funding. The company intends to use the funding, which is subject to approval under the National Security and Investment Act (NSIA), to take on more customers while continuing to develop the platform. Founded in 2016 by energy specialists Jim Scott, Dan Wright and Tom Anderson, who met while working at Aston University, later joined by Richard Moore, who held senior roles at Deloitte in the US and Paul McCorquodale, who held senior roles at companies including EE and Amber Energy, Grid Edge provides AI-powered software that helps reduce carbon emissions and energy costs in commercial buildings. Machine learning is then used to create a detailed picture of workplace operations and energy usage, making recommendations to optimise performance. The solution is used in developments such as Birmingham’s Bull Ring shopping centre and London’s Royal Opera House, and by building owners and facilities management companies including Amey, Equans and OCS.