Xora leads oversubscribed $13.5 M Seed financing for Temasek-backed GridCARE
Xora, a Temasek-backed deep technology venture capital firm, led a highly oversubscribed $13.5 million seed financing round for GridCARE, a new company driving the AI revolution.
According to a statement released by GridCARE on Tuesday, in addition to Xora, the company has received investments from notable AI and energy founders and operators, such as Tom Steyer, Ram Shriram, Gokul Rajaram, Felix Zhang, Balaji Prabhakar, and Tarun Raisoni, as well as Aina Climate AI Ventures, Sherpalo Ventures, Breakthrough Energy Discovery, Overture Ventures, WovenEarth, Acclimate Ventures, Clearvision, and Clocktower Ventures.
“Power is the new kingmaker in the AI arms race. Companies that secure reliable energy fastest will dominate the next generation of AI,
“By serving as the bridge between AI infrastructure developers and utility companies, GridCARE gives our partners the critical speed advantage they need to win this race while strengthening energy resilience,” said Amit Narayan, Chief Executive Officer and Founder of GridCARE.
It is observed that the unprecedented demand for power brought about by AI’s explosive growth is predicted to more than double by 2050.
While developers of AI infrastructure race to find new data center power sources, enormous amounts of existing grid capacity are still hidden.
Developers can secure dependable power at a fraction of the time and cost without waiting for new construction thanks to GridCARE’s use of cutting-edge AI to unlock this untapped capacity.
The company works directly with hyperscalers and some of the largest developers of AI data centers to speed up the time-to-power for infrastructure deployment. This includes finding new locations for gigascale AI clusters that have instant power availability as well as upgrading existing facilities.
Data centers’ time-to-power is shortened from 5-7 years to just 6-12 months by using sophisticated generative AI-based analysis to identify areas with geographic and temporal capacity on the current grid. This enables AI companies to deploy GPUs and CPUs more quickly.
In addition to being data center developers’ one-stop power partner, the company removes the hassle of dealing with thousands of utility companies, allowing developers to concentrate on innovation rather than power acquisition.
“GridCARE is solving one of the biggest bottlenecks to AI data centers today — access to scalable, reliable power. Led by seasoned entrepreneur Amit Narayan, the team brings deep domain expertise and has already demonstrated strong traction with utilities and hyperscalers,
“Their differentiated, execution-focused approach enables power at speed and at scale. At Xora, we’re proud to support this exceptional team as they address one of the most urgent infrastructure challenges of our time,” said Peter Lim, Partner at Xora.
