Deals

Utilidata Raises $20M in Series B Funding
Date: 
Tuesday, December 10, 2013
Company: 
Location: 
Rhode Island
Deal Type: 
Funding

Utilidata, Inc., a leading supplier of voltage optimization and digital automation systems for the electric utility industry, today announced that it has secured more than $20 million in Series B financing. Formation 8 Partners and Saudi Aramco Energy Ventures (‘SAEV’) led the round and were joined by existing investors Braemar Energy Ventures and American Electric Power – one of the nation’s largest utilities. The funding will allow Utilidata to bring new advances and innovation related to digital automation, voltage optimization, and systems management to market, and further expands its presence in North America, Asia and the Middle East. Formation 8 founder Jim Kim will join Utilidata’s board of directors...READ MORE

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At Utilidata, we develop innovative solutions that help utilities address a range of challenges. Our experience and thought leadership in this space is unmatched. We are making the grid smarter to reduce waste, increase reliability, and save money—working with utilities to scale solar, wind and other power resources to get out ahead of today’s transforming energy market.

 

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Posted on: February 13, 2012