Silver Spring Networks, a San Mateo, Calif. company that allows utilities to use wireless technologies to meter power and other usage, has raised $10.5 million in debt and warrants, according to a filing with the Securities and Exchange Commission cited by VentureWire.
By allowing for remote, off-site metering, the company’s software helps utilities save costs by reducing the need for field service. The company recently signed a customer deal with the Florida Power and Light Co.
According to the VentureWire, firms owning at least 10 percent of the company include Foundation Capital and JVB Properties, both of which invested in 2003. It’s unclear which investors participated in the latest round.
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