Squire Patton Boggs has advised European venture capital fund Inven Capital on the Series A investment in HYDROGRID, an Austrian developer of software for the hydropower industry. The funding round, co-led with Karma Ventures and with contributions from existing investors CNB Capital and SET Ventures, will enable HYDROGRID to continue its rapid growth and expand into new markets, supporting the transition towards a zero-carbon future.
The team advising Inven Capital was led from Prague by Radek Janeček, assisted by Marek Hrubes and Jakub Němeček.
Inven Capital is a €500 million venture capital fund focused on later-stage climate tech investments in Europe, backed by CEZ Group and European Investment Bank. Inven Capital invests in innovative fast growing climate tech scaleups, with a focus on decarbonization.
Founded in Vienna in 2016, HYDROGRID develops automated IoT software for the optimal, real-time planning & dispatch of hydro power plants. It currently supports hydro operators in seven countries to fully digitalize their processes, enabling them to react in real time to weather events, minimize water losses and maximize their power market revenues, while ensuring environmental and operational safety and compliance.
Radek Janeček commented: “We are pleased to advise Inven Capital on its investment in HYDROGRID, one of the industry innovators in hydropower, the largest source of renewable energy worldwide.”