In the midst of a challenging hurricane season wreaking havoc on communities in Florida and beyond, utility companies are facing immense pressure to keep power flowing and ensure the safety of residents. Urbint, a company specializing in AI-driven risk management, has recently secured $35 million in growth funding led by S2G Ventures to enhance its storm response capabilities and support major utility providers across the country.
The recent funding injection comes at a critical time when powerful storms like Hurricanes Helene and Milton have highlighted the vulnerability of energy infrastructure. Corey Capasso, Urbint’s CEO, emphasized the importance of being prepared for the impact of climate change and severe weather events on electrical grids. With the additional funding, Urbint aims to develop advanced tools to assist utility companies in managing resources, expediting repairs, and safeguarding lives during storms.
Urbint’s key focus lies in its Urbint for Storm Response platform, which empowers utilities to oversee various aspects of disaster response in real-time. From coordinating crew resources and logistics to managing emergency budgets, Urbint’s software offers a comprehensive solution to ensure efficient power restoration. Capasso envisions providing utilities with a wider range of tools to enable faster power restoration and ultimately save lives in the process.
Backed by S2G Ventures, Urbint is poised to expand its reach and enhance its services to meet the escalating demands faced by utility companies. Bala Nagarajan, Managing Director of S2G’s Energy Investment team, stressed the urgency of adapting to the increasing frequency and intensity of storms that threaten energy infrastructure. He highlighted Urbint’s software as a crucial tool for utilities to navigate climate change, improve grid uptime, and enhance safety measures.
Urbint’s innovative technology has already gained recognition from industry giants such as Southern Company, Exelon, and National Grid. By leveraging AI to predict and mitigate risks to workers and infrastructure, Urbint’s platform enables these companies to proactively address storm threats. From identifying vulnerabilities underground to directing repair crews efficiently, Urbint’s predictive capabilities are revolutionizing the industry.
Nagarajan expressed confidence in Urbint’s pivotal role in reshaping how utilities manage risks and combat climate change, emphasizing the company’s importance in safeguarding critical infrastructure during volatile times. Beyond storm response, Urbint’s technology addresses broader risk management needs for utilities responsible for safeguarding extensive critical infrastructure. By identifying risks at job sites and preventing potential injuries and equipment damage, Urbint’s platform is instrumental in building safer and more resilient systems in the long run.
With a mission to assist utilities in fortifying their systems against climate-related threats, Urbint aligns with the nationwide effort to modernize critical infrastructure. The company’s recent funding round solidifies its commitment to this mission, positioning it to support utilities in navigating future storms and emerging stronger in the face of adversity.
