National Grid Partners Raises $150 Million, Invests in 2 SV Firms

LOS GATOS — National Grid Partners (NGP) is the venture investment arm of National Grid plc., one of the world’s largest investor-owned utility companies. NGP announced it has received $150 million in new capital.

Since its launch less than three years ago, National Grid Partners has put $227 million to work in dozens of startups at the intersection of energy and information technology.

“Earth Week is a perfect time to announce this vote of confidence from our senior leadership,” said Lisa Lambert, Chief Technology and Innovation Officer of National Grid  and the Founder and President of National Grid Partners.

Lambert also announced that NGP has invested $7.5 million in two Silicon Valley companies that help enterprise customers protect physical and cyber infrastructure. They are:

  • Mountain View– based Pathr, which uncovers human behavior and interaction in physical spaces like office buildings and factories. Pathr’s cutting edge Spatial Intelligence platform uses existing hardware infrastructure to generate anonymous location data in real time. Better understanding of movement patterns can help Pathr customers increase revenue, optimize operations, improve energy efficiency, and strengthen physical security at their facilities.
  • AccuKnox, a Cloud Security innovator headquartered in Menlo Park. Formed in partnership with Stanford Research Institute, AccuKnox provides a Zero-Trust run-time Kubernetes platform for comprehensive security, compliance and governance in public and private clouds. The company’s KubeArmor technology is built on seminal innovations in container security, unsupervised learning, and data provenance.

“We’re backing companies that can help National Grid serve its customers more safely and securely, so adding Pathr and AccuKnox to our portfolio is a significant step toward fulfilling that objective,” said Lambert.

While more than 70 percent of NGP’s portfolio companies have strategic engagements with National Grid – such as LineVision, which also joined the portfolio this month – seed-stage startups like AccuKnox and Pathr reflect NGP’s commitment to invest in every stage of the innovation ecosystem. That stage-agnostic approach also includes NGP’s Incubation office in San Francisco, and an Innovation team who turns ideas into prototypes that can be deployed in National Grid’s business units or spun out as stand-alone companies.

NGP has led more than 60 percent of its startup investment rounds, with two M&A exits.

“We are investing in and deploying technologies across National Grid’s networks to enhance resilience and reliability, while more easily integrating renewable energy,” said Lambert. “Our company’s ambition is to become the most intelligent, cleanest transmission and distribution network in the world.”

NGP is headquartered in Silicon Valley and has offices in BostonLondon, and New York.