Wednesday, April 17, 2024
HomeFunding Washington-based SparkMeter Secures $5M in Funding

[Funding alert] Washington-based SparkMeter Secures $5M in Funding

Washington-based SparkMeter secures $5M in funding from Honeywell Smart Energy.With the funding, the company wants to move forward from the local microgrid industry into the more broad worldwide utility market.

Washington-based SparkMeter secures $5M in funding from Honeywell Smart Energy. With the funding, the company wants to move forward from the local microgrid industry into the more broad worldwide utility market.

As part of the cooperation, SparkMeter’s integrated approach to cloud-based metering and operational analytics software will be made available to Honeywell Smart Energy’s base of US utility customers. Additionally, SparkMeter’s metering gear will be made accessible to major emerging market nations.

Read also – San Francisco-based Every.io Secures $9.5M in Seed Funding

Under the leadership of CEO Dan Schnitzer, SparkMeter offers grid-management solutions to countries where 2.1 billion people lack access to reliable electricity.

With the help of its plug-and-play solution, distribution utilities and microgrids in remote areas can access a number of features that enhance their operations and assist in achieving financial sustainability, such as flexible billing, customer communications, and remote monitoring and control.

Read also-  NYC-based Hang Secures $9.2M in Series A Round Funding

About SparkMeter

For everything from established urban central grid utilities to remote micro-grids, SparkMeter provides all-inclusive, reasonably priced metering solutions.

Read also –  Washington-based Nanochon Secure an Investment from Cultivate(MD) Capital Funds

Their products contribute to allowing access to power in underdeveloped markets and difficult-to-reach locations. Utilities that serve customers in rural areas of Asia, Sub-Saharan Africa, Latin America, and the Caribbean are adopting our metering technology on a large scale.

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