Varentec develops grid-edge intelligence and dynamic control solutions via its Edge of Network Grid Optimization (ENGO®) hardware and Grid Edge Management System (GEMS®) software. Its Grid Edge Control solution is designed to augment standard grid modernization systems, enhance energy and demand savings, and boost distributed energy resource (DER) hosting capacity. The company is led by Chairman and CEO Guillaume Dufossé. Varentec raised $5M in growth funding led by WindSail Capital Group. The company intends to use the proceeds to accelerate new commercial deployments of its Grid Edge Control technology. Varentec was originally funded by Bill Gates, Khosla Ventures and 3M. Varentec offers the GEMS software platform paired with ENGO power electronic devices deployed on the low-voltage side of distribution grids to control voltage and reactive power in real time. Its technology is designed to reduce grid-edge voltage volatility even with high penetration of distributed PV systems. Utilities can use Varentec’s solution to reduce technical losses, implement grid-side energy efficiency and peak demand reduction, and postpone investments in fossil-fuel generating capacity. The company is led by Chairman & CEO Guillaume Dufosse. Varentec raised $13M in the first closing of its Series C financing and intends to use the funds to expand its software applications and real-time advanced power electronics capabilities. It also plans international deployment of its GEMS platform and ENGO grid-edge control devices. Varentec develops "Edge of Network" power management devices and analytics that monitor and actively adjust voltage at problematic points on the grid. Its product uses line-based sensors and independently operating modules combined with analytics and data-gathering tools to respond immediately to fluctuations. The company piloted its solution with investor-owned utilities — two in the U.S. and one in Mexico — and is preparing a production-scale rollout for global utilities and industrial customers. Varentec has raised venture financing including a $7.7M Series A led by Khosla and recently closed an $8M Series B, and it has also secured over $7M in U.S. government grants. The new funding is intended to support deployment and help update legacy systems at industrial sites and utilities. The founding team includes Dr. Deepak Divan, Andrew Dillon and Mehrdad Hamadani. Varentec develops electric grid and power‑electronics products, including technology to dynamically control power flows. The company is working to demonstrate “power routers” that enable higher levels of green energy integration while reducing the need for new grid infrastructure. Varentec received a $5M Department of Energy ARPA‑E grant to support the power‑router demonstration. Partner organizations on the initiative include the Electric Power Research Institute, Waukesha/SPX, and the NEETRAC center at the Georgia Institute of Technology. Leadership changed with industry veteran Dr. Deepak Divan named President and CTO. The company recently closed a $7.7M Series A to fund its technology development and demonstration efforts.

Total raised

$39M

Funding rounds

5

Latest round

Equity

Latest activity

Nov 2019