Energy management startup GridBeyond has raised $12 million in an equity funding round.

Investors in the Series D round included Samsung Ventures, ABB, Constellation and Act Venture Capital.

In a statement, GridBeyond said it will now collaborate closely with Samsung on trading, energy, and optimization services.

“This exciting partnership, with one of the world’s largest and most innovative technology companies, will support GridBeyond in our goal of delivering the world’s leading optimization and trading platform to battery storage and renewable energy developers,” GridBeyond’s CCO, Mark Davis, told DCD.

Based in Dublin, Ireland, GridBeyond provides management software for battery storage and renewable power generation infrastructure, allowing its clients to engage in advanced AI forecasting and optimization of power usage, as well as energy arbitrage, distribution network support, and capacity market participation.

The firm said that the funds raised would be reinvested into its optimization platform for distributed energy assets and accelerate its expansion into the UK, the US, Australia, and Japan. For its part, Samsung explained that its investment was in response to GridBeyond’s status as a “key enabler of smarter energy systems.”

GridBeyond has been expanding steadily since its founding in 2010. The startup now operates in the US, Canada, Japan, and Australia in addition to the UK and Ireland. In 2024, the firm raised €52m ($59m) during its Series C funding round, employing over 160 employees and managing an energy load of at least 2.6GW. That same year, GridBeyond announced its provision of one 2MW/2.2 MWh battery energy storage system (BESS) and another 4MW/6.1MWh unit for two data centers owned by Keppel DC REIT outside Dublin.