Tuesday, January 5, 2016
Greenwave Systems Raises $60M
Irvine-based Greenwave Systems, a developer of a platform used for managing Internet--Things systems, router, video, and wireless products, said today that it has raised $60M in funding. The funding included $45M in a Series C equity funding, and $15M in mezzanine debt. The $45M equity funding was led by EDBI and Singapore Technologies Telemedia, along with The Westly Group and E.ON. The debt portion came from BDCA (Business Development Corporation of America). Greenwave is led by Martin Manniche. The company said its customers include Verizon, whose FIOS Quantum Gateway was developed in conjunction with Greenwave.