GridPoint has closed a $75 million investment by Goldman Sachs’ Sustainable Investing Group and Shell Ventures.
GridPoint’s IoT platform increases energy efficiency and lowers emissions in commercial buildings by leveraging data analytics, intelligent automation and machine learning. Its technology also aggregates energy loads and provides flexible capacity to utilities and grid operators by networking together buildings.
Gridpoint’s funding signals a strong and growing demand for smart buildings, especially as buildings generate nearly 40 percent of global GHG emissions; highlights the importance of flexible energy capacity to utilities and a modernized grid to businesses as they move toward the “electrification of everything”; and addresses the climate crisis and charts a path for transitioning to a clean energy future, propelling forward many of the key technologies that cities across the country are now prioritizing.