There’s Big Money In Energy Big Data

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The energy Internet is coming.

Some day the power grid may operate a lot more intelligently, using data sources like the Internet does. But until then, there will be a growing need for new technology to create, crunch, and analyze energy data.

On Tuesday, startup AutoGrid, which has developed data analytics for utilities, announced that it’s raised another round of $20 million. It is just one example of the heightened interest by investors and entrepreneurs in new data tools for the energy industry.

The funding was led by Energy Impact Partners, an investment group that raised money from power companies like Southern Company, National Grid, and Xcel Energy. Additional investors in AutoGrid’s round include venture capitalists Foundation Capital, Voyager Capital, and Envision Ventures, as well as E.ON Venture Partners, the investing arm of German energy company E.ON.

Source: FORTUNE.

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