Asset monitoring platform Withthegrid secures eur 1 million investment to make energy infrastructure more efficient and reliable.
Boundary Holding, ROM Utrecht Region, and a select group of industry veterans jointly invest EUR 1 million in Withthegrid, a Dutch energy analytics solution company. Withthegrid has developed an asset monitoring cloud platform that helps improve the management and efficiency of energy infrastructure, making them more sustainable and cost-effective. The investment will allow Withthegrid to commercialize its services further and continue the development of its innovative software.
Strong investment consortium
The EUR 1 million investment is provided by Dutch regional development agency ROM Utrecht Region and European deep tech investor Boundary Holding. Together with industry veterans, the investors will support Withthegrid with expertise and access to their international networks throughout Europe and Southeast Asia.
This strategically strong consortium invests in a young company with an innovative product and a seasoned management team. Founded in early 2017, Withthegrid boasts a strong team of entrepreneurs with national and international experience in energy and tech. Combined with the expected impact and significant market potential of the Withthegrid asset monitoring solution for energy infrastructure, it is an attractive investment opportunity.
Efficient energy infrastructure
Energy infrastructure companies face tremendous challenges: Shortage of technical personnel, aging infrastructure, and decarbonization targets. Getting the increasing amount of work done is becoming a more significant challenge by the day.
Withthegrid’s solution helps energy infrastructure owners and operators increase the efficiency of their operations. Withthegrid uses IoT technology in combination with AI-powered algorithms to deliver actionable insights. It’s easy to use cloud platform means both field mechanics and asset management have access to the latest asset infrastructure insights. By monitoring and predicting faults, overall efficiency improves, downtime is reduced, and asset lifetime is extended. Withthegrid has been expanding its customer base and is now active in four European countries.
The next phase
Withthegrid will use the funding to commercialize its services further and expand its efforts, particularly in software development and anomaly detection algorithms.
Paul Mignot of Withthegrid: “An essential requirement for the energy transition is having an efficiently managed energy grid. Our team sees huge potential for streamlining operational processes and obtaining actionable insights to improve the energy grid. Our projects with energy infrastructure operators in the Netherlands and Europe confirm this potential. We are extremely proud that we now enter the next phase with Boundary Holding, ROM Utrecht Region, and industry veterans on board. These parties add relevant insights and provide access to relevant expertise and energy infrastructure operators. This consortium is the perfect foundation for our next chapter!”