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BFD Expert Voices - Climate Deals

BFD Expert Voices

Grid sensor startup VIE Technologies has raised a $15 million Series A round, entirely from venture firm Energy Impact Partners. 

Why it matters: Despite cooling venture funding for climate tech, booming electricity demand is spurring investment in grid startups. 

How it works: VIE, founded in 2018, makes a sensor that detects vibration and temperature changes and works with AI models to detect grid gear issues and predict when infrastructure needs repairs.

The company is currently focused on transformers, the gear that changes grid electricity voltage levels and is required for power projects, but plans to expand to other grid infrastructure like switch gear.

VIE sells its sensors to utilities, energy developers and data center operators. 

Customers can use the sensor and software service to save costs on extending the lives of grid hardware, avoid grid failures and plan for better management of gear.

By the numbers: VIE says it has deployed sensors for five customers, on 450 transformers, providing monitoring for over 1.2 gigawatts of grid capacity.

Zoom out: Grid infrastructure is aging and is being put under strain as demand for electricity soars.

The transformer is the most vulnerable grid point, with an average age of 38 years, says VIE CEO Rahul Chaturvedi. 

Transformers also have issues with complicated supply chains and long order backlogs.

The big picture: Climate investors are increasingly looking to back startups that have a proven customer list and can leverage digital tech.

At the same time, grid infrastructure startup funding was on pace to rise considerably last year compared to 2023, according to Pitchbook data.

What's next: VIE has a target to deploy its sensors for a thousand transformers by the end of this year.

Exclusive: VIE raises $15M for sensors for an aging grid

Electricity demand is soaring but most transformers are old.

Sensors made by VIE Technologies are attached to a row of grid transformers

Sensors made by VIE Technologies are placed on a row of grid transformers. Photo: Courtesy of VIE Technologies

Grid sensor startup VIE Technologies has raised a $15 million Series A round, entirely from venture firm Energy Impact Partners. Why it matters: Despite cooling venture funding for climate tech, booming electricity demand is spurring investment in grid startups.

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Exclusive: VIE raises $15M for sensors for an aging grid

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