VIPC Awards CCF Grant to N-Smart to Improve Smart Grid Resiliency Using Internet of Things

November 29, 2023 03:00 PM GMT | By EIN Presswire
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RICHMOND, VIRGINIA, UNITED STATES, November 29, 2023 /EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC) today announced that NSmart Inc. dba N-Smart has been awarded a Commonwealth Commercialization Fund (CCF) grant for $100,000. VIPC’s CCF programs have distributed more than $53 million to Virginia-based startups, entrepreneurs, and university-based inventors since 2012 in support of critical early technology testing and market validation efforts. N-Smart has previously received funding from VIPC’s Virginia Venture Partners (VVP).

Sterling, Va.-based N-Smart gives utility companies an improved way to manage their grids, particularly during critical outages. With N-Smart, utilities can now detect outages in real time, identify the exact location to send their crew with the necessary tools appropriate for the situation, and manage the inventory required for power restoration with a unified dashboard. This IoT-enabled platform not only improves energy utilities’ overall disaster response, but N-Smart’s solution can also automate regular processes, predict scenarios, and simulate smart behavior.

With CCF funding, N-Smart will fully integrate different types of sensors required for damage assessment and equipment management and implement a pilot project on a customer’s distribution infrastructure.

“Partnering with VIPC has been a game-changer for N-Smart, propelling our growth and impact in the market,” said N-Smart founder and CEO Kiran Yeddala. “VIPC funding has provided us with the financial resources to expand our IoT-based grid outage assessment and smart restoration technologies, and the workshops and mentorship programs offered have enhanced our business development skills and knowledge, which are crucial for successful scaling. Overall, collaborating with VIPC is proving to be the catalyst the company needs to emerge as a leading player in the energy technology sector and we can’t wait to see where we can go next.”

“N-Smart aims to simplify the energy sector’s adoption of IoT and make the nation’s grids secure, reliable, and resilient,” said Jeanette Townsend, VIPC’s Director of Private Sector Grants. “With this innovative, end-to-end solution, utility companies can restore services quickly and efficiently, ensuring safety and convenience for their customers, along with substantial cost savings. CCF is excited to support this Virginia startup that is demonstrating the potential to transform how utility companies manage their grids.”

About N-Smart
N-Smart is a leading technology startup based in the United States, specializing in providing Internet of Things (IoT) based solutions for grid outage assessment and smart restoration. Leveraging cutting-edge technology and data analytics, we are committed to making energy grids smarter, more resilient, and highly efficient. Our suite of solutions enables utilities and energy providers to assess grid outages in real-time and automate the restoration process. This minimizes downtime, improves customer satisfaction, and contributes to more sustainable energy management. With a dedicated team of engineers, data scientists, and energy experts, N-Smart is at the forefront of transforming the traditional energy grid into a more intelligent and adaptive system. Partnering with utility companies, government agencies, and stakeholders across the energy sector, N-Smart aims to catalyze change in how we consume and manage energy.

About Virginia Innovation Partnership Corporation (VIPC)
VIPC: Connecting innovators with opportunities. As the nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia's innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy.

Programs include: Virginia Venture Partners (VVP) | VVP Fund of Funds (SSBCI) | Virginia Founders Fund (VFF) | Commonwealth Commercialization Fund (CCF) | Petersburg Founders Fund (PFF) | Smart Communities | The Virginia Smart Community Testbed | The Virginia Unmanned Systems Center | Virginia Advanced Air Mobility Alliance (VAAMA) | The Public Safety Innovation Center | Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit www.VirginiaIPC.org. Follow VIPC on Facebook, X (formerly Twitter), and LinkedIn.

About the Commonwealth Commercialization Fund (CCF)
VIPC’s Commonwealth Commercialization Fund (CCF) accepts applications and awards funding on a rolling basis to Virginia’s small businesses and university-based innovators. For Virginia’s private sector community, the competitive grant program seeks high-potential Virginia-based for-profit technology companies at the early stage of commercialization and provides grants up to $100,000. The grants support early technology and market validation efforts such as the development of prototypes or minimum viable products (MVPs), customer pilots, and intellectual property protection. For more information on funding opportunities and eligibility requirements, or to apply, visit the CCF pages from www.VirginiaIPC.org.

Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
[email protected]
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