Dublin-based startup GridBeyond secured €6 million in debt financing through Claret Capital, led by a system that provides control and management systems for commercial, industrial and retail users.
The Irish company plans to continue its international expansion with additional funding. They recently raised €16 million through additional investors Act Venture Capital, Energias de Portugal (EDP), Electricity Supply Board (ESB), and Total Carbon Neutrality Ventures. This is in addition to investors who previously invested in the company.
Claret European Growth Capital Fund III
Just a few months after the London-based Claret Capital announced the final closing of Fund III, which is worth $297 million, debt financing was provided. This was backed by Allied Irish Banks, ISIF and other institutional investors.
The Claret Capital fund invests in companies with a strong potential and proven market traction. These organizations use cutting-edge technologies and typically have three to five years of funding available. They can scale up to €50 million and are used to support businesses at different growth stages. Claret’s facilities are available for $2 million to $5 million, and they typically last three to five years.
Energy As A Service
GridBeyond provides businesses with Energy As A Service solutions that use advanced data modeling, machine learning and artificial intelligence. It was founded by Michael Phelan and Padraig Curran.
Company tech divides load generation, storage, and energy generation into an evened out system.
GridBeyond recently started branching out into several new markets, including Japan, Australia and North America.
The company expects to increase revenue by 85% every year. This growth has been averaging 75% over the last two years.
GridBeyond comes up with a new trading and hedging business as a result of the energy shortage. It can be incorporated alongside its energy storage business.
GridBeyond COO Richard O’Loughlin is pleased with their partnership with Claret Capital. GridBeyond is experiencing rapid growth and is expected to increase revenue by 85% in 2023. This partnership helps them continue their global expansion efforts. The Company’s increased presence in the market will enable them to implement more expansive plans that support their customers’ efforts to stay financially stable and reduce the cost of high energy costs. This can be done thanks to new offers that boost energy resilience and lower costs. These benefits can be leveraged by investing in programs that support the Company’s goal of a net-zero carbon footprint.
GridBeyond provides businesses with Energy As A Service solutions that use advanced data modeling, machine learning and artificial intelligence. It was founded by Michael Phelan and Padraig Curran.
Company tech divides load generation, storage, and energy generation into an evened out system.
GridBeyond recently started branching out into several new markets, including Japan, Australia and North America.
The company expects to increase revenue by 85% every year. This growth has been averaging 75% over the last two years.
GridBeyond comes up with a new trading and hedging business as a result of the energy shortage. It can be incorporated alongside its energy storage business.
GridBeyond COO Richard O’Loughlin is pleased with their partnership with Claret Capital. GridBeyond is experiencing rapid growth and is expected to increase revenue by 85% in 2023. This partnership helps them continue their global expansion efforts. The Company’s increased presence in the market will enable them to implement more expansive plans that support their customers’ efforts to stay financially stable and reduce the cost of high energy costs. This can be done thanks to new offers that boost energy resilience and lower costs. These benefits can be leveraged by investing in programs that support the Company’s goal of a net-zero carbon footprint.
