Dive Brief:

• Smart grid startup Utilidata has closed on $20.5 million in a Series B financing round, led by Foundation 8 Capital and Saudi Aramco Energy Ventures.
• American Electric Power (AEP) is an investor, and has used Utilidata’s conservation voltage reduction system in a 2009 pilot project the utility company expanded in 2012.
• The funding will allow Utilidata to bring new advances and innovation to digital automation, voltage optimization and systems management, and further expands its presence in North America, Asia and the Middle East. 

Dive Insight:

Utilidata says its voltage and VAR optimization systems have the potential to create significant economic benefits through lower energy consumption, reduced peak demand, improved distribution grid capacity and better visibility over grid operations. It claims its expertise in monitoring distribution grid voltage delivers 25-50% greater voltage reduction than its competitors.