Prisma Photonics Raises $20M for Hyper-Scan Fiber-Sensing Grid Tech
Prisma Photonics, an AI-driven startup, has raised $20m in a Series C round led by Insight Partners. The funding will support the development of their Hyper-Scan Fiber-Sensing technology, which monitors infrastructure using existing optical fibers. This innovative solution is set to enhance power grid management and resilience, aiding the energy transition process.
The technology, covering up to thousands of kilometers, provides real-time alerts on electrical faults and extreme weather conditions with high accuracy. This helps maintain grid resiliency, enabling power transmission operators to maximize electrical capacity and integrate more renewable energy sources. Prisma Photonics' CEO, Dr. Eran Inbar, stated that the technology adds resilience to the grid and enables dynamic line rating capabilities, aiding compliance with regulations such as FERC order 881 in the US.
Besides Insight Partners, Israel Natural Gas Lines (INGL) also participated in the funding round, bringing the total funding raised by Prisma Photonics to over $50 million. Ganesh Bell, Managing Director at Insight Partners, highlighted the urgent need for innovative, scalable solutions in critical infrastructure management. The technology serves other infrastructure sectors beyond the power sector, demonstrating its versatility and potential.
With the successful Series C funding round, Prisma Photonics is poised to advance its Hyper-Scan Fiber-Sensing technology. This innovation promises to strengthen power grid management, enhance resilience, and facilitate the integration of renewable energy sources, playing a significant role in the energy transition process.
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