Leading utility Alectra Inc. invests $5M in Grid4C via its professional services company Util-Assist Inc. to scale its #1 ranked AI-powered energy analytics
As part of the deal, Util-Assist will partner with Grid4C to resell and guide development of leading AI solutions
Grid4C, a worldwide leader in artificial intelligence (AI) and machine learning solutions for the energy industry, has announced that Util-Assist Inc., a leading professional services and managed services company to North American utilities, has invested $5M USD in Grid4C. As part of the investment, Util-Assist, which is a wholly owned subsidiary of Alectra Energy Solutions Inc., a branch of the Alectra Inc. family of companies, will resell and develop products built on Grid4C’s leading AI solutions.
Util-Assist joins previous investors such as ICV, Grid4C’s seed investor which has leading utilities in Europe and Asia among its partners, and iAngels, all of which have collectively invested $12.5M USD in the company