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Smart grid startup GridPoint is having a good week. The Washington DC-based company won the overall startup award at the AlwaysOn GoingGreen conference earlier this week. And now there’s word that the company has raised $32 million in a series D round, according to a regulatory […]

Smart grid startup GridPoint is having a good week. The Washington DC-based company won the overall startup award at the AlwaysOn GoingGreen conference earlier this week. And now there’s word that the company has raised $32 million in a series D round, according to a regulatory filing picked up by PeHub.com. The article says listed shareholders include Goldman Sachs, Altira Group and Standard Renewable Energy Group.

GridPoint sells technology that adds intelligence to the network, including energy storage technology and technology for the implementation of demand response, which utilities can use to manage the electricity grid. At GoingGreen yesterday, CEO Peter Corsell described the company as one that is driving Internet technology to the electricity grid. When it comes to network intelligence, everything that happened in the Internet industry is happening to the electricity grid right now, he said.

Update: A GridPoint spokesperson confirms the registration filing of $32 million in funding, and says the company previously raised $38.8 million. The company also says that the complete series D round has not yet closed.

We contacted the company for confirmation about this latest round and will add more details when we know more.
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  1. [...] Q&A with GridPoint CEO Peter Corsell Written by Katie Fehrenbacher No Comments Posted October 17th, 2007 at 1:28 pm in Startups One day, the old-skool electricity grid will have the smart network capabilities of the Internet — distributed, self-healing, maybe even peer-to-peer. It’s a huge future business opportunity that’s prompting investors to put money into startups like GridPoint, which this morning said it closed a $48.5 million Series D round that was led by Goldman Sachs Group (GS) and Susquehanna Private Equity Investments (we wrote about the first part of this round in mid-September). [...]

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  2. [...] One day, the old-skool electricity grid will have the smart network capabilities of the Internet — distributed, self-healing, maybe even peer-to-peer. It’s a huge future business opportunity that’s prompting investors to put money into startups like GridPoint, which this morning said it closed a $48.5 million Series D round that was led by Goldman Sachs Group (GS) and Susquehanna Private Equity Investments (we wrote about the first part of this round in mid-September). [...]

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