Birmingham-based Grid Edge, an AI-driven energy management firm, has raised €3.3M (£2.8M) in a funding round led by Mercia Ventures, with participation from Centrica, BP Ventures, and private investors.
The investment, pending approval under the UK’s National Security and Investment Act, will support platform development, customer expansion, and the creation of 15 new jobs. The company aims to grow its team from 28 to 43 across sales, customer support, and technical roles.
Grid Edge’s software helps commercial buildings optimize energy use, reducing costs and carbon emissions by an average of 20%. The firm has seen a 150% increase in annual recurring revenue and plans to expand from 120 to 400 locations within two years.
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Founded in 2016 by energy experts, Grid Edge uses machine learning to analyze building data, weather patterns, and energy pricing, providing efficiency recommendations. The platform enables clients to achieve a return on investment within six months.
The funding will accelerate growth amid rising demand for energy cost management and stricter carbon reporting requirements.
