Prisma Photonics, a start-up based in Tel Aviv, raised approximately $20 million in a Series C round for its optical sensing technology for monitoring large-scale infrastructure, such as power grids.
Prisma Photonics says its optical fiber sensing technology offers power transmission operators better ways to manage their grids. It allows them to maximize the electrical capacity of the current grid to increase the integration of renewable energy sources. Doing that, operators respond to new emerging regulations such as FERC order 881 in the U.S. and similar. Real-time alerts on electrical faults and extreme weather conditions such as wildfires and icing offer better ways to retain grid resiliency in changing environments. Prisma Photonics uses existing optical fibers and can monitor distances of up to thousands of kilometers without the need to install any sensors on the infrastructure itself.
The funding round was led by New York-based global private equity and venture capital firm Insight Partners, with participation from Elements, a Climatech fund, SE Ventures (Schneider Electric's venture capital arm), Future Energy Ventures (the venture capital investment and collaboration platform of E.ON), Events and alerts are reported in real time and within meters of accuracy.
"Grid congestion and the integration of renewable sources have become pressing challenges for power market operators such as our Tier-1 customers," states Dr. Eran Inbar, CEO of Prisma Photonics. "Our AI-driven technology not only adds a layer of resilience to the grid but also enables dynamic line rating capabilities, unlocking the full potential of existing infrastructure. This investment led by Insight Partners highlights the urgent need for innovative, scalable solutions in critical infrastructure management."
https://www.prismaphotonics.com
- In January, Prisma Photonics, which has been using optical fibers to monitor Israel's national transmission electrical grid since 2020, was awarded a contract by Israel Electric Corporation (IEC) to extend coverage to 1,000 km (over 620 miles), which is 20% of the transmission grid.
