WeaveGrid secures financial support from Kia and Hyundai

South Korean carmakers Kia and Hyundai are investing in the US company WeaveGrid. The latter allows automakers to integrate EVs with the electric power grid. The investment sum has not been made public.

WeaveGrid explains the importance of its technology, saying that its platform allows EVs to communicate with the power grid, vehicle-to-grid capabilities and a patented approach to distribution-integrated smart charging orchestration (DISCO), built with artificial intelligence (AI) technology – all by keeping data from software-defined electric vehicles safe and secure. Also, WaveGrid supports utilities serving more than 40% of electric vehicles in the United States.

“With Hyundai Motor and Kia joining Toyota as investors in our platform, we’re seeing a clear industry convergence,” said Apoorv Bhargava, CEO of WeaveGrid. “These investments validate our approach to creating a cybersecure, seamless solution that enables automakers to transform their EVs into grid-interactive vehicles. With our solutions already deployed with some of the largest utilities in the country, we’re establishing the foundation for how hundreds of millions of EVs and the grid will work together.”

In December, WeaveGrid announced a 28-million-dollar investment led by Toyota’s growth fund, Woven Capital. Existing investors include Activate Capital, Collab Fund, Emerson Collective, and Salesforce Ventures participated, with debt provided by HSBC Innovation Banking.

“Hyundai is particularly excited about WeaveGrid’s ability to transform our software-defined vehicles into intelligent, grid-interactive assets, building on our Bluelink+ system,” said Keith Noh, Vice President at Hyundai Motor Company and Head of the ZER01NE Group. “Our software-defined EVs require a sophisticated platform that can securely manage vehicle data, optimize charging patterns, and strengthen the grid. WeaveGrid’s technology allows us to turn our vehicles into dynamic energy resources that can communicate intelligently with the electric grid, creating value for drivers, utilities, and the broader energy ecosystem.”

weavegrid.com (Hyundai and Kia), weavegrid.com (Toyota)