Digitizing Hydropower to Unlock the Green Grid's Potential
Philipps & Byrne Supports Inven Capital’s Strategic Investment with Tech Due Diligence
Austrian scale-up HYDROGRID closed its Series-A funding, raising 8.5M USD to supercharge its journey toward global expansion, supporting a zero-carbon future. Led by Inven Capital and supported by Karma Ventures, alongside continuing investors CNB Capital and SET Ventures, this funding underscores HYDROGRID's critical role in the renewable energy landscape, particularly in hydropower, the world’s largest source of renewable energy.
- Location: Vienna, Austria
- Business Context: Renewable Energy, Hydropower Digitalization
- Tech Landscape: AI, Machine Learning, Real-Time Data Analytics
- Round: Series A 8.5M USD
Technology Due Diligence on Pioneering Hydropower Solution
Philipps & Byrne conducted a comprehensive technology due diligence on Climate Tech Startup HYDROGRID, focusing on its innovative approach to hydropower digitalization.
Our analysis encompassed the company’s tech leadership and team, assessing their expertise and commitment to driving innovation in hydropower management. We looked at the product management, their tech stack and architecture.
Additionally, hosting and infrastructure were scrutinized and processes related to quality assurance, security, compliance, and privacy, were assessed, evaluating whether HYDROGRID’s solutions meet industry standards.
This due diligence report gave a detailed estimation of all technical risks and opportunities and provided a set of actionable reccomentations for the company to support their future growth.
About HYDROGRID
Founded in 2016 and awarded the national digitalization award in 2019, HYDROGRID stands at the forefront of hydropower digitalization. Its Insight production planning solution leverages machine learning for inflow and power price forecasting, offering a fully automated software package that optimizes hydro asset management across various time horizons. This innovation enables operators to adapt in real-time to environmental changes, maximizing efficiency and revenue while maintaining safety and compliance. Dedicated to sustainable hydropower practices, HYDROGRID is on a mission to make hydro a power for the future, contributing to the decarbonization of the global energy sector.
Visit: https://hydrogrid.ai/
About Inven Capital
Inven Capital, a 500M EUR climate tech venture capital fund based in Europe, focuses on late-stage investments in companies driving decarbonization and sustainable growth. Backed by the CEZ Group and the European Investment Bank (EIB), Inven Capital aims to support scaleups that showcase strong revenue-driven business models and the potential for long-term impact. With investments across a diverse portfolio of climate tech innovators, Inven Capital is committed to fostering a greener future through strategic funding and support.
Visit: https://www.invencapital.cz/
