Artificial intelligence (AI) startup WorkOnGrid has raised ₹22.5 Cr ($2.4 Mn) in a fresh funding round led by Transition VC, with participation from Indian Angel Network (IAN).

The funds raised will be deployed to fuel expansion, strengthen AI/ML capabilities and build international infrastructure. 

Founded in 2017 by Udit Poddar, Shreyansh Jain, Aayush Agrawal and Shaurya Poddar as a data consulting company for SMEs, WorkOnGrid subsequently transitioned to provide a utility data warehousing and analytics platform to firms.

Its platform collects and analyses data from systems such as smart meters, field devices and operational software used by electricity, water, and gas utilities. The goal is to turn this data into useful insights so companies can run their networks more efficiently.

The startup’s main product is a platform called Grid, which acts like a central system for collecting and organising operational data. It connects different systems used by utilities — such as billing systems, meter data systems, and field workforce tools — and brings all the information into one place. 

This allows managers to monitor operations, create reports, and detect problems quickly. It can also detect electricity theft, identify faulty meters, predict maintenance needs, or show which areas of a power network are facing issues. Employees can even ask questions in simple language and get insights or automated reports

Excluding the current round, the startup told Inc42 that it has raised $820K in two rounds earlier.

The development comes at a time when investors are more focused on backing AI startups with stronger moats and their use cases. 

On that note, earlier today AI startup H2LooP raised $2 Mn (about ₹18.59 Cr) to scale its platform and scale enterprise deployments. Meanwhile, AI-native product design platform Noon bagged $44 Mn to accelerate product development while scaling its distribution.

Investment firms have been lining up funds to back AI and technology startups, prioritising their unique offerings that automate operations and deliver accurate solutions. 

In that light, American multinational Qualcomm revealed in February that it is planning to invest $150 Mn in India’s technology and AI startup ecosystem through its investment arm, Qualcomm Ventures.

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