Grid.vc’s portfolio company Safegrid has received a million euro investment from Ajanta Innovations investment company and its co-investors and Grid.vc venture fund. Safegrid’s intelligent grid system helps locate, predict and prevent grid faults and improve grid performance with instant-on wireless sensors and modern cloud-based monitoring and analytics software. With this investment, Safegrid can accelerate its growth in the European markets, where it already has tens of grid companies as customers.
In addition to the investment, Safegrid has appointed former Nokia CEO Olli-Pekka Kallasvuo as the chairman of the board of directors. Kallasvuo brings with him decades of experience in corporate leadership and high technology business, and long track record of leading innovative and diverse teams around the world. “I like the vision of Safegrid and share their vision of transforming the smart grids to support the fight against the climate change and make electricity distribution more sustainable and flexible. I decided to accept the invitation to join the board because Safegrid is a very unique company”, said Olli-Pekka Kallasvuo.
Grid.vc warmly welcomes Mr. Olli-Pekka Kallasvuo to join the board!