National Grid Partners (NGP), the investment and innovation arm of National Grid, is continuing to invest in new technologies that could help build a more sustainable energy system. The firm has announced an investment in three new firms, which brings the total number of investments by NGP to 18.
All of the latest investments are for companies in the IoT and AI space, two areas which are predicted to have a significant effect on the energy market. The three companies are:
- CNIGuard, which builds ruggedised IoT cloud sensors, delivering asset protection and management solutions for utility-critical infrastructure.
- SparkCognition, an advanced platform that provides AI systems to enable customers to weave AI into the fabric of their organisations.
- Uniphore, which claims to redefine the customer service experience of the future through AI-enabled Conversational Service Automation.
“We are investing in the technologies that will enable the energy systems of tomorrow,” said Lisa Lambert, National Grid’s chief technology and innovation officer and the founder and president of National Grid Partners.
“From modernising our assets, to providing advanced safeguarding and security measures, National Grid is delivering a safer and more seamless energy experience for its customers.”
So far, NGP has invested $102 million in emerging technology companies, although the firm expects to raise that total to $250 million over the next few years.
“National Grid Partners is best-in-class in corporate venturing. They are strong advocates of innovation within the utility sector and have a deep understanding of edge technologies like AI,” said Amir Husain, founder and CEO of SparkCognition.
“They also have the credibility to drive customer engagement for their portfolio companies with industry leaders and the executive relationships within National Grid to effect change and drive meaningful outcomes.”