Weavegrid Announces $35 Million Series B Investment To Enable The Electric Transportation Transition

Nov 15, 2022•over 2 years ago

Amount Raised

$35 Million

Round Type

series b

San FranciscoAutomotiveSoftware

Investors

Activate CapitalThe Salesforce Ventures Impact FundCoatue, Grok VenturesBreakthrough Energy VenturesActivate Capital, Collaborative FundSalesforce Ventures

Description

WeaveGrid, a software company that builds data products to enable rapid electric vehicle (EV) adoption, announced today that it has raised $35 million in Series B funding. Salesforce Ventures led the round, with participation from new investors Activate Capital, Collaborative Fund, Emerson Collective, and MCJ Collective and existing investors Breakthrough Energy Ventures, Coatue, Grok Ventures, and The Westly Group. With a continued focus on climate investments, the Salesforce Ventures Impact Fund took its first lead role in the WeaveGrid investment. The Series B comes just eighteen months after WeaveGrid announced its $15 million Series A.

Company Information

Company

WeaveGrid

Location

San Francisco, California, United States

About

WeaveGrid works with utilities, automakers, EVSEs, and EV owners to enable and accelerate the electrification of transportation. Using machine learning, optimization, and predictive analytics, our software solution solves several EV-grid integration challenges for utilities in a systems-oriented manner; helps integrate renewable energy resources on the grid; and saves utility customers money on their bills. Our vision is to drive the rapid decarbonization of the transportation and electric networks by intelligently connecting EVs to the grid.

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