Buzz Solutions, a Palo Alto, CA-based AI company specializing in inspecting and safeguarding critical energy infrastructure, has closed $5 million in growth funding, bringing its total raised to $10.7 million.
SaaS Investors
The round was led by GoPoint Ventures, with additional investments from Blackhorn Ventures and MaC Venture Capital.
Founded in 2021, GoPoint Ventures is a venture capital firm based in Montclair, New Jersey. The firm was founded to invest its principals' capital alongside visionary entrepreneurs. They provide equity dollars and hands-on partnerships to businesses nearing a growth inflection. GoPoint Ventures is typically a lead investor through multiple capital rounds and aims to partner with founders over the full lifecycle of a company.
Buzz Solutions Use of Funds
The funding will fuel the company's expansion into new use cases associated with infrastructure monitoring.
Buzz plans to scale its PowerAI and PowerGUARD offerings across utilities in the U.S. and internationally, helping them reduce the risk of infrastructure failure, safeguard critical assets, and save millions of dollars annually.
About Buzz Solutions
Founded in 2017 by Kaitlyn Albertoli and Vikhyat Chaudhry, Buzz Solutions provides an AI-powered predictive analytics platform for visual infrastructure inspections. The company enables field teams to prioritize and perform maintenance in a timely manner, reducing the likelihood of wildfires, forced shutdowns, and power outages resulting from failed grid infrastructure. Buzz also enables utilities to monitor substation infrastructure for security, safety, and high-energy events. Buzz works with several large utilities across North America, including the New York Power Authority and Southern California Edison. Buzz was established and is headquartered in Palo Alto, California.
Funding Details
Company: Buzz Solutions, Inc.
Raised: $5.0M
Round: Growth Round
Funding Month: March 2024
Lead Investors: GoPoint Ventures
Additional Investors: Blackhorn Ventures and MaC Venture Capital
Company Website: https://buzzsolutions.co/
Software Category: Insfracture Inspections and Monitoring
Source: https://www.prweb.com/releases/buzz-solutions-raises-5m-to-accelerate-adoption-of-its-ai-powered-platform-for-visual-grid-infrastructure-inspections-and-monitoring-302092788.html