ABB, Axpo, DNV, and VERBUND back Gridcog in a $10M round to enhance modelling of critical energy projects — TFN

ABB is leading Gridcog’s $10 million Series A round, with Axpo, DNV Ventures, and VERBUND X Ventures also participating.

These new investors are major energy companies that already rely on Gridcog’s modelling software for their project decisions.

So far, Gridcog has modelled over 16,000 energy projects in more than 40 countries.

Gridcog, a London-based platform focused on energy flexibility modelling, has closed a $10 million Series A round led by ABB. Axpo, DNV Ventures, VERBUND X Ventures, and existing shareholders AlbionVC and Clean Energy Finance Corporation also took part.

The round is notable for the involvement of four new investors representing industrial electrification, energy consulting, and large-scale generation and trading. These sectors already use Gridcog’s software or compete with those who do.