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Who is WeaveGrid, a recent Salesforce Ventures investment?
WeaveGrid is startup that develops electrification software for the scalable deployment of electric vehicles on the electric grid.
The benefit of Salesforce Ventures, Salesforce’s Venture Capital arm, is its ability to make strategic investments in the interest of Salesforce while also adopting an ESG-style investing approach. ESG stands for Environmental, Social, and Corporate Governance and represents an organization’s commitment to making investments that have a positive impact on society and the environment.
Salesforce’s recent investment in [WeaveGrid] (https://www.weavegrid.com/)is aligned with Salesforce’s core values, its prioritization of ESG investing, and pursuit of a more sustainable future.
Who is WeaveGrid?
Today the electrical grid works, but the coming increase in the number of Electric Vehicles (EVs) will present a challenge. Thankfully, companies like WeaveGrid have been working to solve this challenge. WeaveGrid’s Enterprise SaaS integrates data from utilities, automakers, and drivers to help utilities manage the load that EVs put on the electrical grid, making the coming increase in EVs possible. With its $35 million Series B raise, WeaveGrid is ready to enable the transition to electric transportation.
Why did Salesforce Ventures invest in WeaveGrid?
Salesforce values the environment. In fact, environmental initiatives are so important to Salesforce that the company established sustainability as one of its core values. With the development of Net Zero Cloud 2.0, Salesforce is not only making sustainability its top priority but is also providing software to help the world’s largest companies achieve net zero emissions as well. Salesforce focuses its sustainability efforts on six sustainability priorities presented in the company’s Climate Action Plan. The six sustainability priorities are emissions reduction, carbon removal, trillion trees and ecosystem restoration, education and mobilization, innovation, and regulation & policy.
A reduction in reliance on oil and gas to power vehicles through a transition to electric vehicles is an important step that must be taken in order to achieve environmental sustainability. Salesforce’s investment in WeaveGrid proves Salesforce’s commitment to assisting in the transition to electric transportation.
Other Salesforce Ventures portfolio companies creating social and environmental impact include Andela, Arcadia, Flutterwave, Measurabl, Paper, and Unite Us.
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