Utilidata has raised $60.3 million in Series C funding to scale its energy infrastructure AI platform, Karman, developed in partnership with Nvidia.

Karman is designed for grid operations. According to the company, the platform provides real-time visibility, identifies and manages distributed energy resources, enhances resiliency, and offsets the need for future infrastructure investments. The platform can be integrated into smart meters, providing AI solutions to utility companies and their customers.

The platform was developed using a custom Nvidia chip, which the company claims provides 100 times the processing power of other meter-based solutions. The platform can connect to millions of endpoints and coordinate them to monitor and react to real-time conditions.

The round was led by Renown Capital Partners, with participation from Quanta, Nvidia, and existing investor Keyframe Capital. Citigroup served as the sole placement agent for Utilidata in the transaction.

“With this round of financing, Utilidata is positioned to deliver a major breakthrough in how the world manages power across the entire energy ecosystem,” said James McIntyre, co-founder, CIO, and managing partner at Renown Capital Partners. “By bringing artificial intelligence to the edge of the grid, Utilidata’s Karman platform will help deliver unprecedented efficiency, resilience, and security to energy infrastructure across the world.”

Following the funding round, Karman is now available for purchase directly from Advantech. The company has already partnered with Deloitte to support clients in “navigating the modern power grid” and has also partnered with Quanta to support the deployment of AI-enabled infrastructure.

"Electricity has gone from being abundant and predictable to scarce and increasingly unpredictable,” said Josh Brumberger, CEO of Utilidata. “That paradigm shift requires fundamentally new technology and deeper industry collaboration. We’re bringing together a powerful coalition of partners who are committed to scaling AI across the grid to build a modern and dynamic energy system.”

AI is increasingly being deployed as a means to support grid infrastructure modernization. In April, Google partnered with PJM Interconnection to deploy AI technology that facilitates faster grid connection.

Following this, GridFree AI raised $5 million in seed funding to streamline and accelerate data center deployment using its Power Foundry platform, which integrates power generation, battery storage, and cooling into a modular, grid-independent solution.