Grid intelligence technology company Gridsight has secured a US$26 million funding round, equivalent to A$36 million, to accelerate its expansion in the United States and Australia. The Sydney based start-up, founded in 2020, uses artificial intelligence to help electric utilities identify and unlock unused capacity on distribution networks. The Series B round was led by New York venture capital investor Insight Partners and included participation from Galvanize, Airtree, Energy Transition Ventures and Aera VC.
Series B Funding Details
Gridsight plans to direct the new capital toward growing its AI driven capacity management solutions in the United States while supporting continued growth in Australia. Co-founder and chief executive Brendan Banfield said the company splits its time between both markets and has already secured deals with American energy providers including Xcel Energy and Avangrid subsidiary United Illuminating. Industry sources place the company valuation at about US$200 million following a Series A that raised US$4.5 million last year.
Technology for Smarter Grids
Gridsight has built specialized artificial intelligence models and digital twin technology that give power utilities detailed visibility into network conditions. The platform uses smart meter and network data to monitor distribution systems, map available capacity and support the integration of distributed energy resources. Banfield explained that the hybrid AI model understands the physics of power networks and can show how new loads would affect capacity at any point.
Commercial Traction in Australia and the United States
Gridsight has established itself as a supplier to Australian providers including Endeavour Energy, Essential Energy and SA Power Networks. In the United States, the company has secured deals with Xcel Energy and Avangrid subsidiary United Illuminating as part of its expansion push. Xcel Energy senior vice president of electric distribution Todd Connor said the platform is integral to how distribution teams operate and plan, turning network data into actionable intelligence.
Australian Market as a Testbed
Australia has become an important testbed for grid innovation because of its rapid adoption of rooftop solar and batteries. Co-founder Kurt Walkom said the decentralised network of the future is being lived in Australia first, creating complexity that requires new approaches. Endeavour Energy has used the platform to double household solar export capacity from five kilowatts to ten kilowatts while protecting the local grid through dynamic controls.
Growing Demand and Investor Confidence
Gridsight says electricity demand is rising after years of stagnant growth because of AI data centers, electric vehicles and electrification. New infrastructure is often costly and slow to build, so utilities are seeking ways to use existing networks more efficiently. Insight Partners managing director Rachel Geller said the energy transition is stress testing utility networks in ways they were not designed to handle.
Founding Story and Leadership Plans
Brendan Banfield and Kurt Walkom have been friends since early childhood in Goulburn, south of Sydney, and third co-founder Hugh Chan met Walkom at university. The founders now split their time between Australia and the United States, with one expected to be based mainly in the US next year. Their work with Australian utilities has helped the company prove itself to American operators, who view Australia as an early indicator of future grid management challenges.
Gridsight's Series B financing signals growing investor confidence in artificial intelligence software that can make electricity networks more efficient at a time of accelerating demand. The company's traction with Australian and US utilities positions it to play a meaningful role in the energy transition by helping grids connect more customers and distributed resources faster. As the founders increase their focus on the United States, the start-up aims to show that Australian energy innovation can help solve global infrastructure challenges.