Silver Spring Networks joins rush, with $17.4M for smart grid tech
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.
Next Story: CalCEF Clean Energy Angel Fund holds initial close toward $20M
Previous Story: Roundup: Layoffs at Sitoa, GrandCentral gets knocked offline, and more
About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.