Israel Electric Corp. Renews Funding For AI Monitoring Startup 

The Israel Electric Corporation has joined the latest round of funding for a startup that uses artificial intelligence to monitor major infrastructure such as power grids, after investing in the company last year as well.  

The IEC has been working with Prisma Photonics since 2021, using the startup’s optical fiber sensing technology to monitor more than 1,000 km (approx. 620 miles) of its network, identifying electrical faults, hardware damage and weather conditions for 20 percent of Israel’s national grid.

Prisma Photonics’ Series C funding round raised more than $20 million and included investments from venture capital firms specializing in energy innovation. The company says the funding is intended to accelerate its entry into the global energy market and support continued growth.  

“Prisma Photonics’ transformative paradigm in critical infrastructure monitoring aligns with our innovation goals – IEC is committed to becoming a global leader in advanced power operations through continuous adoption of cutting-edge technologies,” said Amir Livne, Senior VP of Strategy and Innovation at Israel Electric Corporation. 

“Our second investment signifies our dedication to safety, grid integrity, and environmental responsibility. This continued collaboration will better optimize our network for renewable energy integration, using advanced technologies to ultimately achieve net-zero emissions,” he said.

“IEC remains a valued customer and strategic investor, as evidenced by their participation in our latest funding round,” said Dr. Eran Inbar, CEO of Prisma Photonics. 

“While our technical partnership spans over several years, this second investment underscores their dedication to driving innovation in Israel’s power supply industry as they delve deeper into grid resilience to bolster their renewable energy projects.”