A USD 33 million in Series C funding was closed by LineVision, Inc., the world’s top supplier of overhead line monitoring for electric utilities. The money raised in this round will be used to hasten the global expansion of the Grid Enhancing Technology (GETs) platform, which is already being adopted by top utilities globally to quicken the transition to net zero and boost the capacity, flexibility, and safety of their transmission grids.

The round is co-led by S2G Ventures, a USD 300 million multi-stage clean energy fund that invests in speeding up the transition to the clean energy, low carbon economy needed to mitigate the worst effects of climate change, and is led by Climate Innovation Capital. This fund invests in climate technologies and businesses poised to deliver the most significant amount of carbon reductions in the shortest time.

Other recent investors include Marubeni, a top global investor, developer, and operator of infrastructures across energy, utilities, telecommunications, and transportation, and Microsoft Climate Innovation Fund, a USD 1 billion investment initiative to accelerate technology development and deployment of new climate innovations. Participating in the round were several established investors, including UP Partners, National Grid Partners, Clean Energy Ventures, and Zoma Capital.

According to Kevin Kimsa, co-founder and managing partner of Climate Innovation Capital:

 The grid’s capacity must be increased for the economy to decarbonize. We believe there is a massive opportunity for LineVision’s technology-driven infrastructure platform to release this desperately needed capacity and benefit customers, utilities, the development of renewable energy sources, innovators in electrification, and the environment.

According to Francis O’Sullivan, Ph.D., Managing Director of S2G Ventures:

 “Access to appropriate transmission capacity is the single biggest impediment the US and many other major power markets face in reaching its near- to medium-term decarbonization ambitions.” LineVision and their top utility partners are releasing the tremendous untapped potential 

We try our  best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by! 

Next Article

Previous articleNeo-banking cryptocurrency firm Juno raises USD 18 million in Series A funding
Next articleDigital healthcare startup Sure Med Compliance raises USD 1 million in Pre Series A funding
Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

LEAVE A REPLY

Please enter your comment!
Please enter your name here