Utilidata Funding, Investors & Competitors

Utilidata has raised $135M across 4 funding rounds, most recently a $40M Series C in May 2026.

Last Utilidata funding round

$40M

Series C · May 2026

Cumulative funding Utilidata raised

$135M

across 4 funding rounds

Key investors in Utilidata

  • Keyframe Capital Partners
  • NVIDIA
  • Braemar Energy Ventures
  • MUUS
  • Renown Capital Partners
  • Moore Strategic Ventures
  • Microsoft Climate Innovation Fund
  • Quanta Services

Utilidata Overview

About Utilidata

Utilidata is a grid edge technology company deploying open-source distributed AI to optimize electric distribution networks, accelerating decarbonization and improving customer service. Partnering with NVIDIA, it has developed the smart grid chip combining real-time grid optimization with accelerated computing to handle electrification and severe weather demands.


Founded

2012

HQ

United StatesProvidence, RI

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Utilidata Funding History

Utilidata has raised a total of $135M across 4 funding rounds.

Utilidata's first fundraising round was a $8M Series A in August 2020. The most recent completed round was a $40M Series C in May 2026.

Utilidata funding rounds

Utilidata funding rounds
DateStageInvestorsRaisedDeal Summary
May 2026Series CRenown Capital Partners (lead); Keyframe Capital Partners$40MUtilidata raised $100 million in a Series C financing on May 28, 2026, with Renown Capital Partners leading the round and Keyframe Capital participating as an existing investor. The financing was completed through an initial tranche and a subsequent $40 million extension, bringing the total Series C to $100 million. The capital is intended to support the launch and scaling of Utilidata’s Karman platform in the data center market, with a focus on unlocking stranded compute capacity and improving power usage. The raise reflects investor interest in AI infrastructure and energy optimization software, and it extends Utilidata’s prior Series C financing announced in 2025. Utilidata is an Ann Arbor, Michigan-based company that develops dynamic power orchestration software for AI data centers and embedded AI for power infrastructure. Its platform has been positioned for data center deployment, and the company has described Karman as a power-optimization tool built in partnership with Nvidia.
Apr 2025Series CRenown Capital Partners (lead); NVIDIA; Keyframe Capital Partners; Quanta Services$60MUtilidata is a Providence, Rhode Island-based energy technology company specializing in edge AI for digitizing the grid edge to optimize clean energy integration. Its patented real-time machine learning software enhances grid visibility, operations, anomaly detection, and distributed energy resource management. The company's distributed AI platform, Karman, developed in collaboration with NVIDIA using a custom NVIDIA Jetson Orin Nano module, embeds AI into devices like smart meters for real-time grid insights and efficiency. On April 29, 2025, Utilidata raised $60.3 million in a Series C funding round led by Renown Capital Partners, with participation from Quanta Services, NVIDIA, and existing investor Keyframe Capital Partners. Citigroup acted as the sole placement agent. The funds are earmarked to scale Karman amid converging megatrends like rising data center power demand and grid complexity. Karman provides utilities with real-time visibility, resiliency enhancements, and capacity optimization without major infrastructure overhauls, claiming 100 times the processing power of competing meter-based solutions. Post-round, Karman became available via Advantech, with partnerships including Deloitte for grid navigation support and Quanta for AI-enabled infrastructure deployment. Investors highlighted Utilidata's role in addressing electricity scarcity and unpredictability through edge AI, enabling smarter decisions and dynamic energy systems. Renown Capital, a growth-stage energy tech investor spun out from Moore Capital Management with $250 million in anchor capital, views Utilidata as central to global energy infrastructure resilience and efficiency.
Feb 2022Series BMoore Strategic Ventures (lead); NVIDIA; Keyframe Capital Partners; MUUS; Braemar Energy Ventures; Microsoft Climate Innovation Fund$27MUtilidata is an energy technology company specializing in grid-edge software and edge AI solutions to optimize the electric grid, integrate distributed energy resources, detect anomalies, and enhance visibility using real-time machine learning from smart meters and grid devices. The company, headquartered in Providence, Rhode Island, develops the Karman platform powered by a custom NVIDIA module for embedding AI into grid-connected infrastructure. In February 2022, Utilidata raised $26.75 million in a funding round from investors including Moore Strategic Ventures (lead), Braemar Energy Ventures, Keyframe Capital Partners, Microsoft Climate Innovation Fund, MUUS, and NVIDIA, aimed at accelerating the clean energy transition. Subsequent developments include a June 2024 collaboration with Deloitte for AI-driven grid solutions and a Series C round of $60.3 million in April 2025 led by Renown Capital with participation from Quanta Services, Keyframe Capital, and NVIDIA to scale the Karman platform globally. Utilidata's technology addresses grid challenges from renewables, electrification, and data center demand by providing real-time control and efficiency. The company has grown to 51-200 employees and focuses on partnerships to deploy AI at grid edge for utilities facing increased load growth and unpredictability.
Aug 2020Series AKeyframe Capital Partners (lead); American Electric Power; MUUS; Braemar Energy Ventures$8MUtilidata is a grid-edge optimization software company providing real-time data and analytics solutions for the electric distribution grid. The company's patented machine learning software leverages smart meter data to detect anomalies, optimize grid operations, and integrate distributed energy resources including solar, storage, and electric vehicles. In August 2020, Utilidata closed a $8.25 million Series C funding round led by Keyframe Capital, with participation from MUUS Asset Management and existing investors Braemar Energy Ventures and American Electric Power. The capital was deployed to accelerate development of the company's meter-based software solutions and expand market reach. Utilidata had demonstrated significant traction with major utilities including National Grid and American Electric Power as customers prior to the round.

Who has invested in Utilidata?

9 investors have backed Utilidata across its funding rounds, including Keyframe Capital Partners, NVIDIA, Braemar Energy Ventures, MUUS, Renown Capital Partners and Moore Strategic Ventures.

Lead investors include Renown Capital Partners, Moore Strategic Ventures and Keyframe Capital Partners.


Utilidata Investors

Investors in Utilidata by funding rounds participated
InvestorHQRoundsRoleFirst check
Keyframe Capital PartnersUnited StatesNew York City, NY4LeadAug 2020
NVIDIAUnited StatesSan Jose, CA2ParticipantFeb 2022
Renown Capital PartnersUnited StatesNew York City, NY2LeadApr 2025
MUUSUnited StatesNew York City, NY2ParticipantAug 2020
Braemar Energy VenturesUnited StatesNew York City, NY2ParticipantAug 2020
American Electric PowerUnited StatesColumbus, OH1ParticipantAug 2020
Microsoft Climate Innovation FundUnited StatesSeattle, WA1ParticipantFeb 2022

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Utilidata Competitors

Utilidata competitors include listed companies like SAP, Snowflake and Nebius Group, and private ones like Anthropic, OpenAI and Databricks.

Public and private companies comparable to Utilidata
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AnthropicUnited StatesSan Francisco, CAPrivate$47B-$965B20.5x
OpenAIUnited StatesSan Francisco, CAPrivate$25B-$852B34.1x
SAPGermanyGermanyPublicly listed$42B$13B$248B5.4x
DatabricksUnited StatesSan Francisco, CAPrivate$7B-$190B27.1x
SnowflakeUnited StatesUnited StatesPublicly listed$4.7B($1.3B)$119B21.0x
Nebius GroupNetherlandsNetherlandsPublicly listed$530M$512M$59B24.2x

Utilidata Public Comps

Utilidata is still privately-owned, but its public comps include CrowdStrike, SAP, GE Vernova, Salesforce, Reliance Industries, NextEra Energy, Iberdrola, ServiceNow, Siemens Energy and Snowflake.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CrowdStrike$4.8B($12M)51.4x44.5x(19816.2x)151.0x
SAP$42B$13B5.8x5.4x18.4x17.1x
GE Vernova$38B$3.2B6.2x5.4x73.5x43.5x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
Reliance Industries$110B$20B1.9x1.7x10.4x10.3x
NextEra Energy$27B$16B10.5x9.6x17.9x16.2x
Iberdrola$51B$17B4.4x4.3x13.2x11.8x
ServiceNow$13B$2.6B11.1x9.6x57.2x25.0x

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Common questions about Utilidata

When was Utilidata founded?Utilidata was founded in 2012.
Where is Utilidata headquartered?Utilidata is headquartered in Providence, RI, United States.
Is Utilidata publicly listed?No, Utilidata is a private, VC-backed company.
How much funding has Utilidata raised?Utilidata has raised $135M across 4 funding rounds.
What was Utilidata's last funding round?Utilidata's last funding round was a $40M Series C in May 2026, led by Renown Capital Partners.
Who are Utilidata's investors?Utilidata's investors include Keyframe Capital Partners, NVIDIA, Renown Capital Partners, MUUS, Braemar Energy Ventures, American Electric Power, Microsoft Climate Innovation Fund, Quanta Services and Moore Strategic Ventures.
Which companies are comparable to Utilidata?Companies comparable to Utilidata include Anthropic, OpenAI, SAP, Databricks, Snowflake and Nebius Group.

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