Utilidata Raises $60.3M to Scale AI-Powered Energy Grid Technology

Utilidata, a Providence-based company specializing in edge AI technology for energy grids, has raised $60.3 million in Series C funding led by Renown Capital Partners and with participation from NVIDIA, Quanta, and others. The company will use the funds to scale its distributed AI platform, Karman, which is developed in collaboration with NVIDIA and designed to embed AI capabilities directly into grid-connected devices like smart meters. This technology enables localized insights into electricity usage, distributed energy resources, and hardware faults, allowing utilities to optimize power flow and predict potential issues before failures occur. By operating analysis at the grid edge rather than in centralized systems, Utilidata's platform can reduce bandwidth needs and enable immediate responses, leading to cost savings and reduced grid strain for customers. Recent trials demonstrated up to a 12.5% reduction in customer bills and a 25% decrease in peak electricity usage. Utilidata is also partnering with organizations like Deloitte and Quanta Services to advance the deployment of AI-enabled infrastructure at scale.