Utilidata Secures $60.3 Million in Series C Funding to Scale AI-Driven Energy Platform
Utilidata, a leader in edge AI technology for energy management, announced today that it has raised $60.3 million in Series C funding. The round was led by Renown Capital Partners, an investment firm focused on growth-stage technology companies, with participation from Quanta, NVIDIA, and existing investor Keyframe Capital.
Citigroup acted as the sole placement agent for the transaction. This funding will enable Utilidata to scale its Karman platform, an AI-driven solution developed in collaboration with NVIDIA over the past four years. Built on NVIDIA Jetson Orin Nano edge AI modules, Karman can be embedded in any device connected to the energy system.
Karman: Unlocking AI Power for Energy Infrastructure
James McIntyre, Co-Founder, CIO & Managing Partner at Renown Capital Partners, said, “With this round of financing, Utilidata is positioned to deliver a major breakthrough in how the world manages power across the entire energy ecosystem.”
He added, “By bringing artificial intelligence to the edge of the grid, Utilidata’s Karman platform will help deliver unprecedented efficiency, resilience, and security to energy infrastructure across the world.”
The growing need for power in data centers, expected to grow by 160% by 2030, in addition to the world's clean energy shift, has introduced new challenges for grid operators.
Edge AI offerings such as Karman are intended to address these issues, freeing up grid capacity, improving reliability, and lowering carbon emissions by integrating high-performance AI and compute directly into the infrastructure.
Also read: Oomnitza Unveils New AI-Driven DCIM Solution to Support Evolving Data Center Demands
Strategic Partnerships to Scale Edge AI for Utilities
The Karman platform is now available for purchase from Advantech, a global leader in IoT intelligent systems and embedded platforms, making it easier for hardware partners to integrate Karman into their devices.
Hubbell Incorporated is already working with Utilidata to embed Karman into smart meters for electric utilities.
Utilidata’s strategic collaborations are designed to support utilities throughout the deployment of edge AI at scale. This includes a first-of-its-kind partnership with Deloitte to help clients navigate the modern power grid, and a new collaboration with Quanta Services to deploy AI-enabled infrastructure efficiently.
Transforming Energy Systems with AI and Accelerated Computing
With the rising demand for power and the growing importance of data centers, these investments will help Karmanscale rapidly to meet the needs of the evolving energy landscape. NVIDIA’s AI innovations will play a critical role in enhancing Karman’s potential to transform energy management at the grid edge.
