AutoGrid Systems Secures $9 Million in Financing to Bring Big Data Analytics to the Energy Industry
Summary
The Highly Scalable & Secure Cloud-Based System, Improves the Reliability and Efficiency of the Electricity Supply Chain Through Real-Time Predictive Analytics & Physics-Based Optimization PALO ALTO, CA--(Marketwire - Oct 29, 2012) - AutoGrid Systems, a leader in Big Data analytics and software services for empowering utilities and end-users to control their power consumption and costs, is proud to announce that it has raised $9 million in venture funding from leading investors in the Silicon Valley. As an initial application, the technology will dramatically help expand how demand response programs are used by utilities and retail electricity providers in the nation and around the world," said Steve Vassallo, a partner at Foundation Capital. Founder and CEO Dr. Amit Narayan served as the Director of Smart Grid Research in Modeling & Simulation at Stanford University from 2010 to 2012 and has successfully brought numerous cutting edge technologies to market over the years. Other founding executives include Chief Software Architect Rajeev Singh, who has designed high-volume transactional systems for e-commerce, pharmaceutical, and airline and cargo customers, and CTO Chris Knudsen, who oversaw smart grid standards development at Pacific Gas & Electric. Based on open protocols such as OpenADR, the industry-wide standard for automated demand response, DROMS can be economically implemented by service providers of all sizes, not just the large utilities or industrial facilities.
Funding
Classifications
AskAI Classifications
LabelsLinked Companies
