10/24/2019 | Press release | Distributed by Public on 10/24/2019 07:33
Portfolio Grows To 18 Companies in 12 Months
24 Oct 2019
LOS GATOS, CA - October 24, 2019-National Grid Partners (NGP), the investment and innovation arm of National Grid plc (LSE: NG; NYSE: NGG), announces 3 new venture capital investments, thus growing its portfolio to 18 companies. NGP is investing in CNIGuard, and most recently invested in SparkCognition, and Uniphore, which specialize in the Internet of Things and Artificial Intelligence solutions and enable National Grid to automate customer processes and further secure its assets. NGP has invested $102 million in emerging technology companies and fund investments since its inception and is partnering with these companies to deliver a smarter and more renewable energy future.
NGP's newest portfolio additions include:
'We are investing in the technologies that will enable the energy systems of tomorrow,' said Lisa Lambert, National Grid's Chief Technology and Innovation Officer and the Founder and President of National Grid Partners. 'From modernizing our assets, to providing advanced safeguarding and security measures, National Grid is delivering a safer and more seamless energy experience for its customers.'
'National Grid Partners is best-in-class in corporate venturing. They are strong advocates of innovation within the utility sector and have a deep understanding of edge technologies like AI,' said Amir Husain, Founder and CEO of SparkCognition. 'They also have the credibility to drive customer engagement for their portfolio companies with industry leaders and the executive relationships within National Grid to effect change and drive meaningful outcomes.'
NGP previously announced its backing ofAporeto,Audio Analytic, AutoGrid,Carbon Lighthouse, ClimaCell,Copperleaf, Dragos,GoCardless, Leap,Omnidian,Pixeom, andSitetracker as well as limited partnership investments in IQ Capital and Jerusalem Venture Partners. NGP is also a limited partner in the strategic utility technology fund,Energy Impact Fund LP (an Energy Impact Partnersfund). Earlier this year, NGP expanded its Silicon Valley presence by opening an office in San Francisco to invest, incubate, and accelerate early-stage technology companies. NGP will invest $250 million over the next few years in early and growth stage startups.
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About National Grid Partners
National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc. NGP was founded to future proof National Grid's business and build an entrepreneurial culture and capability. NGP makes and manages strategically and financially attractive investments and leads company-wide disruptive innovation and culture transformation efforts. The organization focuses on innovation, incubation, corporate venture capital, business development, and culture acceleration providing a multi-functional approach to change the status quo. NGP is headquartered in Silicon Valley with offices in Los Gatos and San Francisco, and is also located in Boston, London, and New York. Visitngpartners.comor follow us on LinkedIn (National Grid Partners) and Twitter (@ngpartners_).