Is there anything in our lives that moves faster than technology? It would be hard to find anything to rival it. Today, it is an essential part of our world. In a hyperconnected world where something happening in one place can affect the rest of the world, we lead our lives through our screens. When 5G finally becomes a reality, this connection will be even stronger.
Splight, an AI startup at the forefront of grid operations technologies, today announced the completion of its seed funding round. The $12M round was led by noa (formerly A/O) and joined by EDP Ventures, Elewit, Draper Cygnus, Draper B1, Ascent Energy Ventures, Fen Ventures, Reaction Global, Barn Investments, and the UC Berkeley Foundation, among others.
Red Eléctrica has developed a project with the cybersecurity startup Radiflow leveraging the technology offered by its industrial threat detection and management platform iSID. This anomaly detection and OT (Operational Technology) visibility suite allows improving the security of industrial networks through a complete visualization of the network, threat detection and management of communication policies between devices.
Elewit decided to invest through its corporate venture capital (CVC) in HESStec because of its innovative character addressing the main challenges of the new energy model, focused on decarbonization, renewable energies, energy efficiency, storage, sustainable mobility and circular economy.
Redeia, as global manager of essential infrastructures, is constantly striving to advance towards sustainability objectives that contribute to a more sustainable future, as part of its Sustainability Plan 23-25.
Elewit has completed the development of the GridCal and Newton improvement project for electrical planning, known as the Siroco project, in collaboration with the electrical planning and system operation model teams of Red Eléctrica. This project represents a significant step forward in the simulation capabilities of electrical grids, as new advanced functionalities have been developed to meet current needs and foresee future requirements in the electrical sector.
Elewit, Redeia’s technology platform, and Terna Forward, Terna’s CVC vehicle, have led the €1 million Seed funding round of Unusuals, a company specialising in using Artificial Intelligence (AI) for the maintenance of linear structures in the electrical and railway industries. This funding will help Unusuals continue developing its products and expand internationally. Furthermore, Elewit reinforces its CVC portfolio, currently comprising seven well-known startups, including HESStec, OktoGrid, and Nearby Computing.
Elewit, Redeia-s technology platform, is always searching for disruptive solutions to impact the energy and telecommunications sectors. As drivers of change and catalysts of innovation, they invest through their Corporate Venture Capital in early-stage startups with strategic impact on the group.
