ThinkLabs, an energy technology company headquartered in New York, has raised $28 million in a Series A funding round to help utility providers modernize power grid infrastructure amid rising demand from AI data centers.
The round was led by Energy Impact Partners, with participation from NVentures and Edison International, alongside returning investors including GE Vernova, Powerhouse Ventures, Active Impact Investments, Blackhorn Ventures, and Amplify Capital. The funding will support product development and deployment as utilities face increasing pressure to adapt to rapidly growing electricity demand.
What The Company Does
ThinkLabs develops “physics-informed AI” software designed to help utility operators and planners manage grid reliability, optimise power distribution, and reduce bottlenecks. Its platform creates digital simulations of power grids, allowing operators to model and test different scenarios before applying changes in real-world environments.
By building a digital twin of the grid, the system enables utilities to analyse how infrastructure responds under stress, including high-demand scenarios such as large-scale data centre operations. This approach allows for faster and more cost-effective planning compared to traditional studies, which can take months to complete.
The platform is designed to support decision-making in control rooms and long-term planning processes, helping utilities allocate resources more efficiently while maintaining system stability.
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Market Context / Industry Background
The growth of AI infrastructure is significantly increasing electricity demand, particularly due to the expansion of data centres. In the United States, projections suggest that data centre power consumption could exceed the total output of Texas within the next few years, reflecting the scale of the challenge facing energy systems. This rapid increase is forcing policymakers and energy providers to reconsider long-term capacity planning and investment strategies.
Utilities are also dealing with additional pressures, including ageing infrastructure, electrification trends, and climate-related disruptions. These factors are accelerating the need for modernisation and driving adoption of advanced analytics and simulation tools. At the same time, regulatory constraints and the need for grid resilience are adding further complexity to decision-making processes.
AI-based solutions are emerging as a key component in this transition, enabling utilities to process complex system data and respond more dynamically to changing demand patterns. These technologies can improve forecasting accuracy, optimize resource allocation, and support more efficient integration of renewable energy sources into existing grid systems.
Founder / Investor Commentary
Josh Wong, founder and CEO of ThinkLabs, highlighted the urgency of the transition, noting that utilities are being forced to modernise at a faster pace due to mounting operational pressures. He emphasised that the company’s technology can significantly reduce the time required for grid analysis, turning processes that previously took months into rapid simulations.
Wong also pointed to increasing demand from customers for new applications of the platform, particularly as AI adoption expands and introduces new operational requirements for energy infrastructure.
Growth Plans / Use Of Funds
The Series A funding will be used to further develop ThinkLabs’ platform, with a focus on preparing the product for broader commercial availability and expanding its feature set to address additional use cases.
The company plans to grow its team and continue refining its AI models to support a wider range of grid management scenarios. While there is growing international interest, ThinkLabs intends to prioritise expansion within North America in the near term, given its familiarity with regional regulations and standards.
Longer term, the company is preparing to enter additional markets, including Europe and Asia-Pacific, as demand for grid optimisation solutions increases globally.
About ThinkLabs
ThinkLabs is an energy technology company developing AI-powered software for power grid optimisation and planning. Founded in 2024. Headquartered in New York with operations in Canada. The company provides simulation-based tools that help utilities improve reliability, manage demand, and modernise infrastructure in response to evolving energy needs.
