UK-headquartered energy utility National Grid committed an additional $150m to its corporate venturing arm, National Grid Partners (NGP), today.
NGP was launched in 2018 with $250m in capital, $227m of which has now been invested to build a portfolio of approximately 25 companies including conversational speech software provider Uniphore, which raised $140m last month, and Dragos, the cybersecurity technology producer which secured $110m in December 2020.
The two newest companies in the portfolio, US-based spatial intelligence software developer Pathr and US-based container cybersecurity technology provider AccuKnox, have received a total of $7.5m from the unit.
Pathr had raised an undisclosed amount from seed fund E14 Fund in January 2020 while AccuKnox was launched in partnership with Stanford Research Institute and has not revealed any previous funding.
Lisa Lambert, NGP’s founder and president, said: “We are investing in and deploying technologies across National Grid’s networks to enhance resilience and reliability, while more easily integrating renewable energy.
“Our company’s ambition is to become the most intelligent, cleanest transmission and distribution network in the world.”
