Utilidata Raises $40 Million Extension, Completing $100M Series C to Maximize AI Compute Capacity
The added investment from Renown Capital Partners and Keyframe Capital will enable Utilidata to rapidly execute upon its commercial growth strategy and expand its workforce
Ann Arbor, MI, May 28, 2026 (GLOBE NEWSWIRE) -- Utilidata, a leader in embedded AI for power infrastructure, announced today that it has secured an additional $40 million in Series C funding. The round was led by existing investor Renown Capital Partners with participation from Keyframe Capital, completing the Series C at $100 million. The extension marks the second and final close of Utilidata’s Series C financing, following the company’s initial $60.3 million round led by Renown Capital in April 2025, with participation from Keyframe Capital, Quanta Services, and NVIDIA.
The funding will strengthen Utilidata's position to scale commercialization with hyperscalers and the data center market. The company's power orchestration platform, Karman, was developed in partnership with NVIDIA, and unlocks stranded capacity with real-time visibility and control of power utilization. Built on a custom NVIDIA Jetson Orin Nano module, Karman is designed to be embedded at the rack level of data centers to manage rack power in real time, providing operators with high-speed visibility of power utilization.
“The AI infrastructure buildout is one of the defining themes of this decade, but power is a fundamental limitation,” said James McIntyre, Co-Founder & Managing Partner, Renown Capital Partners. “Karman directly solves that problem by getting more out of the power that is available. We’re deepening our commitment to Utilidata because the market need is urgent, the technology is ready, and we are confident that the team has what it takes to deliver.”
Continued support from investors reflects growing recognition that AI growth depends on solving fundamental infrastructure problems. Power is the binding constraint. Interconnection queues stretch years and the increasing density of GPU compute creates power quality challenges that can push instability back onto the grid. The industry needs solutions that intelligently orchestrate power to maximize the performance of existing infrastructure, unlock stranded capacity, and enable denser deployments without causing issues on the grid. Karman smooths power fluctuations, reducing negative grid impacts that pose regulatory risks to data center interconnection and operations outlined in the recent guidelines from North American Electric Reliability Corporation (NERC).
The Series C extension comes ahead of Utilidata’s first commercial deployment with NexGen Cloud, which will go live in Montreal next month and target up to 50% additional usable capacity.
“We’ve believed in this team for a long time, and this round reflects our conviction that Karman is the breakthrough technology at exactly the right moment,” said John Rapaport, CIO, Keyframe Capital. “AI data centers can’t afford to wait for new power capacity. They need to maximize what they have now and that is exactly what Karman delivers.”
To support Utilidata’s next phase of growth, the company is expanding its executive leadership team with the addition of Kit Chee as Chief Commercial Officer. Kit joins the team to lead Utilidata’s commercial strategy, having previously scaled Intel’s cloud sales from $9B to $23B, secured several hyperscalers at Ampere, and helped shape the growth strategy for an ASEAN neocloud.
Along with the addition of Kit, Utilidata is increasing their workforce by 25% this year, many of which are based at their headquarters in Ann Arbor, Michigan, a new state-of-the-art 15,000-square-foot innovation lab with funding support from Governor Whitmer.
"Power availability is the defining constraint for data centers right now," said Josh Brumberger, CEO of Utilidata. "Karman squeezes every watt out of the power you already have, and makes every new megawatt you bring online work smarter. We're commercializing this at exactly the right moment, and we're grateful for the investors who've backed us to do it."
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About Utilidata
Utilidata’s Karman platform provides dynamic power orchestration for AI data centers, enabling operators to better utilize the power already available to them. By embedding real-time visibility and control directly into power distribution equipment, Karman unlocks stranded capacity. The Karman platform is built on a custom NVIDIA Jetson Orin Nano, and was previously embedded into smart meters to bring real-time visibility and power-flow control to the electric grid.
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