National Grid Partners Closes 3 More Deals
October 24 2019 - 8:51AM
Business Wire
Portfolio Grows To 18 Companies in 12
Months
National Grid Partners (NGP), the investment and innovation arm
of National Grid plc (LSE: NG; NYSE: NGG), announces 3 new venture
capital investments, thus growing its portfolio to 18 companies.
NGP is investing in CNIGuard, and most recently invested in
SparkCognition, and Uniphore, which specialize in the Internet of
Things and Artificial Intelligence solutions and enable National
Grid to automate customer processes and further secure its assets.
NGP has invested $102 million in emerging technology companies and
fund investments since its inception and is partnering with these
companies to deliver a smarter and more renewable energy
future.
NGP’s newest portfolio additions include:
- CNIGuard builds ruggedized internet-of-things (IoT) cloud
sensors, delivering asset protection and management solutions for
utility-critical infrastructure.
- SparkCognition is an advanced market leading platform that
provides artificial intelligence (AI) systems to enable customers
to weave AI into the fabric of their organizations.
- Uniphore redefines the customer service experience of the
future through AI-enabled Conversational Service Automation.
“We are investing in the technologies that will enable the
energy systems of tomorrow,” said Lisa Lambert, National Grid’s
Chief Technology and Innovation Officer and the Founder and
President of National Grid Partners. “From modernizing our assets,
to providing advanced safeguarding and security measures, National
Grid is delivering a safer and more seamless energy experience for
its customers.”
“National Grid Partners is best-in-class in corporate venturing.
They are strong advocates of innovation within the utility sector
and have a deep understanding of edge technologies like AI,” said
Amir Husain, Founder and CEO of SparkCognition. "They also have the
credibility to drive customer engagement for their portfolio
companies with industry leaders and the executive relationships
within National Grid to effect change and drive meaningful
outcomes.”
NGP previously announced its backing of Aporeto, Audio Analytic,
AutoGrid, Carbon Lighthouse, ClimaCell, Copperleaf, Dragos,
GoCardless, Leap, Omnidian, Pixeom, and Sitetracker as well as
limited partnership investments in IQ Capital and Jerusalem Venture
Partners. NGP is also a limited partner in the strategic utility
technology fund, Energy Impact Fund LP (an Energy Impact Partners
fund). Earlier this year, NGP expanded its Silicon Valley presence
by opening an office in San Francisco to invest, incubate, and
accelerate early-stage technology companies. NGP will invest $250
million over the next few years in early and growth stage
startups.
About National Grid plc National Grid plc (LSE: NG; NYSE:
NGG) is an international electricity and gas company and one of the
largest investor-owned energy companies in the world. National Grid
plc and its affiliates play a vital role in delivering gas and
electricity to many millions of people across Great Britain and the
northeastern U.S. in an efficient, reliable, and safe manner.
About National Grid Partners National Grid Partners (NGP)
is the venture investment and innovation arm of National Grid plc.
NGP was founded to future proof National Grid’s business and build
an entrepreneurial culture and capability. NGP makes and manages
strategically and financially attractive investments and leads
company-wide disruptive innovation and culture transformation
efforts. The organization focuses on innovation, incubation,
corporate venture capital, business development, and culture
acceleration providing a multi-functional approach to change the
status quo. NGP is headquartered in Silicon Valley with offices in
Los Gatos and San Francisco, and is also located in Boston, London,
and New York. Visit ngpartners.com or follow us on LinkedIn
(National Grid Partners) and Twitter (@ngpartners_).
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version on businesswire.com: https://www.businesswire.com/news/home/20191024005525/en/
Rafael Sulit rafael.sulit@nationalgrid.com +1.347.675.3376
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