Wednesday, July 29, 2009

Grid Net Raises Funding

San Francisco-based Grid Net, which develops policy-based network management software for the utility industry, said Wednesday afternoon that it has raised a Series C funding round. The company, which plays in the smart grid market, did not disclose financial terms of the deal, however, a recent regulatory filing pegs the round at around $13.84M. The funding was led by Braemer Energy Ventures, and also included Catamount Ventures, GE Energy Financial Services, and Intel Capital. The company said the funding will go towards both commercial launch of its products, as well as development of its smart grid solutions. Scott DePasquale of Braemer joins the board. More information »