Childhood mates' AI energy startup Gridsight raises A$36M led by Insight Partners
What's the deal? Gridsight, an Australian AI energy startup, has raised A$36 million in a Series B round led by New York venture capital firm Insight Partners. The six-year-old company was co-founded by childhood friends from regional New South Wales: Hugh Chan, Brendan Banfield, and Kurt Walkom.
What's the endgame? Gridsight builds specialised AI models and digital twin technology that power utilities use to map capacity on their networks. It already supplies major providers including Endeavour EnergyDealroom has a profile for this one. Try Dealroom →, Essential EnergyDealroom has a profile for this one. Try Dealroom →, and SA Power NetworksDealroom has a profile for this one. Try Dealroom →.
Why now? The company is using the round to expand into the United States, where it sees a large opportunity for its technology.
The signal: The round ranks in the top third by size — a notable cheque for a founder team from regional Australia. Insight Partners' backing signals rising investor appetite for AI tools aimed at the ageing power grids that underpin the energy transition.
Image credit: Gridsight
