Update: The total third round of funding appears to have gone up to $59.3 million (see below for reference to the rest), with the addition of JVB Properties of Boulder, Colo. to the investors.
The fourth company (by our count) to get funding for so-called “smart grid” technology in the space of a month, Silver Spring Networks is a Redwood City, Calif. startup on its third round of funding.
The firm took $17.4 million from investors including Foundation Capital and Edison Electric Institute, according to VentureWire, which obtained a filing document. The money is in addition to $40 million raised last year for the same round.
Silver Springs makes internet protocol equipment for utilities, to help report back on electricity usage in real time. The company will also work with a meter manufacturer, Landis+Gyr, to add the equipment into the meters it manufactures.
Ambient, eMeter and GridPoint are the other companies to recently take funding (coverage here, here and here). Foundation Capital is also one of the investors in eMeter.
One Comment
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3 Trackbacks
5:33 am
Greentech Media: Green Light » Blog Archive » The Morning Feedstock said:
[...] Spring Networks is the fourth smart grid company to pull significant funding within the last month, picking up $17.4 million in its Series C round. Edison Electric Institute and Foundation Capital backed the round. Silver Spring manufactures [...]
11:25 am
Silver Spring Gets VC Dollars to Make the Grid Smarter « Earth2Tech said:
[...] startup has raised an additional $17.4 million in funding, according to VentureWire (hat tip VentureBeat). The funding reportedly comes from Foundation Capital and Edison Electric Institute and is part of [...]
9:18 am
DOE and X Prize pledge $150M in new clean technology grants » VentureBeat said:
[...] it may lack the pizzazz of wind or solar energy, smart grid technologies have been all the rage in investment circles, with startups like Silver Spring Networks, Ambient, eMeter and GridPoint [...]