Irish startup VIOTAS secures €10 million to globally expand their smart grid technology

Limerick-based VIOTAS, an innovator in smart grid demand response services that pay large energy users to support grid stability, today announced it has secured a €10 million growth finance facility from Claret Capital Partners.

The new funding will enhance VIOTAS’ capacity to fuel international growth and develop new services to improve revenue certainty for its customers in complex and often volatile energy markets.

“Our partnership with Claret reinforces our strong growth trajectory and enables us to scale with further confidence as we expand to serve more customers globally,” said Prof. Paddy Finn, CEO of VIOTAS. “Our expansion to date has been predominantly powered by the strength of our business. This facility provides additional firepower to move even faster—developing new technologies, entering new markets, and supporting customers with more resilient, value-generating services.”

Founded in 2013, VIOTAS is focused on smart grid technology and demand-side flexibility services. The company empowers large energy users to support grid stability in real time while earning new revenue from their energy assets.

This facility strengthens VIOTAS’ momentum as it continues to scale across new and existing markets. Having largely self-funded its international growth to date through strong commercial performance, the company will now leverage this additional capital to deepen its impact and continue to broaden its service offerings.

The company recently established a foothold in the U.S., marked by a November 2024 launch event celebrating its entry into the Texas ERCOT market. The expansion requires both technical capability and sustained investment in the systems, teams, and infrastructure needed to operate at scale in a new market. This financing deal with Claret Capital Partners will further empower the company to execute on this and other strategic investments.

The funding will also support progress in existing markets such as Australia, where price volatility can lead to variability in earnings for customers providing grid support. VIOTAS is accelerating the development of services that help customers navigate these fluctuations by unlocking more stable, long-term value for participating in energy flexibility programs.

“VIOTAS is a key player in energy flexibility markets globally,” said David Bateman, Managing Partner of Claret Capital Partners. “We are excited to support their next phase of growth as they build on their international success and continue to innovate in support of a more sustainable, responsive energy future.”

This milestone reflects VIOTAS’ role in advancing customer-centric grid flexibility solutions that support renewable energy integration and stability across global power systems.

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