AutoGrid Systems offers an AI-driven Virtual Power Plant software platform, AutoGrid Flex, that predicts, optimizes and provides real-time control of millions of distributed energy assets including EVs, batteries, rooftop solar and utility-scale wind. The Flex platform leverages spare capacity from batteries, electric vehicles and flexible loads to smooth short-term imbalances while providing economic incentives to asset owners. Led by founder and CEO Dr. Amit Narayan, the company combines software and services to enable optimization and monetization for independent power producers, energy-as-a-service firms, retailers and project developers. AutoGrid plans to expand Flex’s capabilities and accelerate global deployment, while building a services organization as a “one-stop-shop” for customers. The company has established a 24×7 Network Operations Center and intends to offer full market participation services across major U.S. ISOs in preparation for changes tied to FERC Order 2222. Financially, AutoGrid completed a new equity financing to support corporate growth and share repurchases. AutoGrid builds AI-powered software, primarily its AutoGrid Flex Virtual Power Plant (VPP) platform, to manage distributed energy resources (DERs) in real time at scale. The company is expanding Flex to scale real-time co-optimization up to 100,000 assets and to add enhanced electric vehicle (EV) fleet management capabilities. AutoGrid supports the buildout of what it says is the world’s largest VPP by asset volume in Japan with local partner ENERES. The company reports over 5,000 MW of assets under contract and experience managing DERs in 12 countries. AutoGrid was awarded a $2.25 million ARPA-E grant to fund these expansions and previously received $3.5 million from ARPA-E’s GENI program in 2012. AutoGrid Flex was ranked the #1 Virtual Power Plant Platform globally in the 2020 Guidehouse Insights ranking. AutoGrid provides a suite of flexibility management applications, including its Energy Internet Platform and AutoGrid Flex, that enable utilities, retailers, developers and service providers to manage distributed energy resources (DERs) in real time and at scale. Led by CEO Dr. Amit Narayan, the company employs AI-driven predictive controls to orchestrate connected, distributed and flexible energy assets. AutoGrid reports more than 5,000 megawatts of DERs under contract with customers such as Xcel Energy, National Grid, E.ON, CPS Energy, Total, NextEra Energy and over 35 other energy companies worldwide. The company intends to use the new funding to accelerate global deployment of its Energy Internet Platform and AutoGrid Flex. The recent investment was an equity extension to its Series D. AutoGrid is headquartered in Redwood City, California. Led by Dr. Amit Narayan, AutoGrid builds software applications that use artificial intelligence, machine learning, big data and IoT to optimize and control energy systems. Its core product, the AutoGrid Flex™ platform, manages networked distributed energy resources (DERs) in real time and at scale. The company reports more than 3,500 megawatts of flexible capacity from DERs under contract and serves customers including National Grid, NextEra Energy, E.ON, Total, Xcel Energy, China Light and Power and over 30 other global energy companies. AutoGrid plans to use new capital to hire in energy, AI, big data and IoT to develop capacity for large-scale grid modernization and digital transformation projects worldwide. It also intends to accelerate commercial deployment of AutoGrid Flex across North America, Europe and Asia-Pacific. Financially, the company has raised $75M to date, including the recent Series D. AutoGrid offers a suite of Energy Internet software applications built on the AutoGrid Energy Data Platform (EDP) with patented Predictive Controls technology. Its platform leverages petabytes of smart meter, sensor and third-party data plus data science and high-performance computing to monitor, predict, optimize and control millions of assets. AutoGrid’s applications enable utilities, retailers, renewable developers and energy service providers to manage DERs in real time, improve reliability, engage customers and reduce operating expenses. The company reported 100% year‑over‑year growth in annual recurring revenue and a 350% increase in distributed energy resources under contract in 2015. Customers include leading energy companies such as E.ON, Bonneville Power Administration, Florida Power & Light, Southern California Edison and NextEra Energy. AutoGrid has received industry recognition including Bloomberg New Energy Pioneer 2016 and World Economic Forum Technology Pioneer 2015.

Total raised

$161M

Funding rounds

7

Latest round

Series D

Latest activity

Oct 2021