HedgeCo.Net — Emerald AI, the Washington, D.C. software company that treats AI data centers as flexible grid assets, said Tuesday it had raised $150 million in an oversubscribed Series A at a $1.05 billion valuation. Reuters, carried on Yahoo Finance, independently reported the same $150 million and the same $1.05 billion mark. VentureBeat printed both figures from the announcement.
Energize Capital and DCVC co-led the round, the company, Reuters, VentureBeat, and Energize’s own note all said. Energize managing partner John Tough will join the board, Energize wrote. Reuters and VentureBeat said the raise brings total capital raised to more than $220 million. Do not break out prior rounds.
The company said it now counts 12 Fortune Global 500 companies as investors, a line VentureBeat repeated. Named participants in the company statement include NVIDIA, Samsung Ventures, Siemens, Aramco Ventures, Salesforce Ventures, GE Vernova, RWE, JERA Ventures, In-Q-Tel, Radical Ventures, Energy Impact Partners, and Lowercarbon Capital. Reuters did not reprint the full roster; keep the long list as the company’s disclosure, not as a second-outlet confirmation of every name.
Founder and chief executive Dr. Varun Sivaram said the firm has completed five demonstrations and is now deploying commercially at multi-megawatt, full-data-center scale. Those operating claims are the company’s. The product is software that dials a facility’s power draw when the grid is stressed. It is not a generation asset and not a chip.
The allocator point is the buyer mix: an energy-transition specialist and a deep-tech firm co-leading a unicorn Series A, with utilities, chipmakers, and corporates on the same cap table. Power is the bottleneck the round is priced on. Anyone still treating data-center interconnection as a hardware-only problem is behind this software print.