New York venture capital giant Insight Partners is the lead investor in a $36 million funding round at Gridsight, an artificial intelligence energy sector start-up co-founded by childhood friends from regional NSW that is expanding into the United States.
The six-year-old company has built specialised AI models and so-called digital twin technology that is used by power utilities to map capacity on their networks. It has established itself as a supplier to major providers including Endeavour Energy, Essential Energy and SA Power Networks.
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