# GridX

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/gridx

- Industry: Software
- Headquarters: Walnut Creek, US
- Website: www.gridx.com
- Total disclosed funding: $46M
- Latest round: Series C (Apr 5, 2022)
- Investors on record: 6

## About

GridX, Inc., based in the US, specializes in big data solutions for utilities, focusing on rate design, billing management, and customer engagement to enhance energy cost transparency.GridX, Inc. was founded in 2010 in Walnut Creek, US, providing advanced solutions for utility companies. The firm has engaged in 6 total deals, with the most recent funding round occurring on April 5, 2022. In this Series C round, GridX raised USD 38.00 mn, led by Energy Impact Partners, alongside other investors including Moore Strategic Ventures, NGP, and Sunfox Capital. The total amount raised by the company is USD 38.00 mn, with a current valuation of USD 99.19 mn. The founder, Ping Qiu, has not been noted for previous ventures, while Chris Black serves as the CEO.GridX specializes in providing advanced solutions aimed at modern utilities, focusing on rate design, billing management, and customer engagement. The company's core product is its True Rates Platform, which allows utilities to design, test, and implement complex rate structures that reflect the evolving landscape of clean energy. This platform facilitates real-time bill calculations that ensure accuracy, providing essential insights for both utilities and customers regarding energy costs and usage behaviors. GridX's offerings serve a diverse client base, including large utility companies and their end users, such as residential and commercial customers seeking to understand their energy consumption patterns. The solutions are marketed across various geographical regions, notably the United States, where utilities are increasingly adopting modern rate plans to encourage the adoption of sustainable energy technologies.GridX generates revenue through a subscription-based model, primarily engaging with utility companies as its clients. The company establishes partnerships with utilities that integrate its platform into their existing customer information systems (CIS), allowing for seamless billing of complex rates. Revenue is derived from these subscription agreements, which facilitate ongoing access to GridX’s services, including real-time billing analytics, tariff modeling, and customer engagement tools. By offering tailored solutions that enhance the utilities' capabilities in billing and customer communication, GridX solidifies its position in the market. The transaction structure emphasizes a B2B approach, ensuring that utilities can efficiently manage their operational needs while promoting customer awareness of clean energy options.Following the Series C funding round on April 5, 2022, where GridX raised USD 38.00 mn, the company plans to leverage this funding to enhance its rate analytics and complex billing solutions. Additionally, GridX aims to build out its sales and marketing, product, and engineering teams to support these initiatives. The company is also expected to explore new market opportunities to expand its geographic reach, although specific regions and timelines for expansion are not detailed. In September 2025, GridX, Inc., a portfolio company of Coparion, Innogy Ventures, Energy Impact Partners, E.ON, Moore Strategic Ventures, NGP, and Sunfox Capital, acquired Innowatts, Inc. from Evergy Ventures, Energy Impact Partners, Shell Ventures, and Iberdrola SA. Financial terms of the transaction were not disclosed.

## Funding rounds

- Series C, Apr 5, 2022, $38M — NGP, Energy Impact Partners, Moore Strategic Ventures, Sunfox Capital
- Series B, Mar 20, 2020, $8.2M — Energy Impact Partners
- Series A, Mar 21, 2018 — Coparion, Innogy Ventures

## Investors

- Coparion (https://capitalatlas.ai/funds/coparion) — Series A
- Innogy Ventures (https://capitalatlas.ai/funds/innogy-ventures) — Series A
- Energy Impact Partners (https://capitalatlas.ai/funds/energy-impact-partners) — Series B, Series C
- NGP (https://capitalatlas.ai/funds/ngp) — Series C
- Moore Strategic Ventures (https://capitalatlas.ai/funds/moore-strategic-ventures) — Series C
- Sunfox Capital — Series C