Ampacimon, a grid monitoring solutions provider, raised €10 million (~$11 million) in Series C funding from Junction Growth Investors along with existing investors Korys, Noshaq, Creos, and Gesval.
The company provides dynamic line rating, partial discharge monitoring, and fault detection solutions, which they claim can enhance power transmission capacity by an average of 30%. Simultaneously, they strengthen operational reliability by enabling early detection, diagnosis, and pinpointing potential failures. The company harnesses data from advanced sensors deployed on grids to optimize its customer’s T&D assets.
“The proceeds from this funding round will be used to accelerate Ampacimon’s expansion. The energy transition brings monumental challenges, and grid operators are in dire need of innovative solutions. In North America, our AAR (Ambient Adjusted Rating) and DLR leadership positions us to help customers navigate the formidable ‘renewables connection queue’ challenge in particular,” said Frédéric Vassort, CEO of Ampacimon.
Recently, Amperon Holdings, a provider of energy analytics solutions, secured $20 Million in a Series B funding round led by Energize Capital. Other participants in this round include the D. E. Shaw group, Veriten, and existing investor HSBC Asset Management. The round helped bring the company’s total funding raised to date to $30 million. The company plans to use the funding to advance an electricity demand forecasting platform to a comprehensive data analytics solution provider.
According to Mercom’s recently released 9M And Q3 2023 Funding and M&A Report for Storage & Smart Grid, Corporate funding for Smart Grid companies in 9M 2023 was 4% higher YoY, with $2.9 billion in 48 deals compared to $2.8 billion in 35 deals in 9M 2022.