Plexigrid Secures $6.5M Grant Round for Energy Transition Software

Plexigrid, a deep tech scale-up focused on electricity grid management, has secured $6,500,000 in a new funding round. The investment will support the company's mission to enhance the efficiency and flexibility of electricity distribution grids through advanced software solutions. Plexigrid develops technology designed to provide grid operators with the real-time analytics and control capabilities necessary for managing the ongoing energy transition. The company, with roots in Sweden and Spain and originating from the University of Oviedo, specializes in software that empowers distribution grid operators. This technology delivers functionalities such as low and medium voltage monitoring, outage detection, and the efficient integration of new energy sources like residential solar PV, battery storage, and electric vehicle chargers. By creating real-time digital twins of electricity networks, Plexigrid's software assists engineers in optimizing load flows, managing connection requests, and improving overall grid operations, thereby complementing existing systems like SCADA and ADMS. This capital infusion is poised to accelerate Plexigrid's strategic growth and enhance its technological offerings. The funds are planned to be used for further developing its proprietary software platform and expanding its operational capabilities to meet increasing demand within the energy sector. This funding round signifies investor confidence in Plexigrid's approach to modernizing critical energy infrastructure. Plexigrid's technology is critical for integrating the growing volume of distributed energy resources into existing grids. By enabling more intelligent and efficient grid operations, the company aims to contribute to substantial savings in both capital and operational expenditures for grid operators. This, in turn, is expected to make the global energy transition faster, more affordable, and more sustainable for a broader population.