Nexant, a global provider of intelligent grid software and clean energy solutions, announced today that Dr. Romesh Wadhwani of Symphony Technology Group has joined TeleSoft, Oak Investment Partners, Intel Capital, and Beacon in raising a total of $50 million to close the company’s latest investment round.
“We are delighted to welcome Romesh to Nexant,” said Arjun Gupta, Nexant Executive Chairman. “We are privileged to have Romesh’s participation—particularly his extensive experience building software companies—as we scale Nexant’s next-generation platform and applications, such as GridSmart®, TrakSmart®, and ChemSystems®.”
“My chief mission has always been to help build great companies over the long term by investing in transformative technology and exceptional talent capable of delivering breakthrough client value,” said Dr. Wadhwani. “I believe Nexant has the potential to be one of those great companies and I am excited to be working with Nexant’s team of energy and software experts to accelerate growth and help scale the company.”
Nexant’s software focuses on the sophisticated demands of next-generation electricity grid operations and energy markets—managing energy efficiency, demand response, and distributed generation; improving the efficiency of the power grid; and supporting market operations. In addition, Nexant provides a wide range of technical, operational, and strategic consultingservices to utilities, and oil, gas, and chemical majors.
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