Gridraven raised €4 million in a funding round led by 42CAP and Icebreaker.vc to expand operations in the US.

Feb 12, 2025•10 months ago

Amount Raised

€4 Million

Round Type

seed

TallinnSoftwareArtificial Intelligence

Investors

Icebreaker.Vc42 Cap

Description

Tallinn-based Gridraven announced a €4 million raise in funding to expand into the US with the registration of Gridraven Inc. The funding will be directed toward scaling operations, growing the team, and accelerating the rollout of innovative solutions designed to address the evolving challenges of the global energy sector.

Company Information

Company

Gridraven

Location

Tallinn, Harju Maakond, Estonia

About

Gridraven is a technology company founded in 2023 that specializes in addressing critical bottlenecks in power grids. Their AI-driven Dynamic Line Rating technology optimizes transmission lines to increase grid capacity by up to 30% without the need for additional hardware. By leveraging machine learning-based weather models, Gridraven aims to improve the efficiency of energy distribution. Their goal is to alleviate grid capacity issues, which they see as a significant barrier to economic growth.

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