AAA Enbala’s $3m funding is Obvious

Enbala’s $3m funding is Obvious

Enbala, a Canada-based smart grid technology developer backed by conglomerate General Electric (GE) and electricity provider Edison Energy, received $3m from venture capital firm Obvious Ventures yesterday.

Enbala’s technology captures and analyses data on consumption across a power grid and automatically dispatches resources to where they are needed most in real-time.

The money will support further development of the technology, and follows an $11m series C round raised in March 2015 from investors including GE’s corporate venturing arm GE Ventures and Edison Energy.

Export Development Canada, EnerTech Capital Partners, Sorfina Capital and Chrysalix EVC also contributed funds to that round.

Chrysalix, EnerTech, Export Development Canada and XPV Capital also injected $7.4m in series B funding in 2013, as well as $8m in series A capital in 2010, alongside Walsingham Fund.

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