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Nexgrid Secures $1 Million in Private Equity Funding
Nexgrid, LLC, the leading provider of standards-based smart grid solutions, today announced that it has successfully completed its first round of private equity financing, raising $1 million.6/8/2010 - Intelagrid, LLC, the leading provider of standards-based smart grid solutions, today announced that it has successfully completed its first round of private equity financing, raising $1 million. The company will use the proceeds from this financing round to expand its software development and sales teams as well as strengthen its customer support capabilities. The funding was provided by a group of investors from Richmond, VA with strong entrepreneurial roots and well-rounded strategic capabilities including finance, operations, accounting, marketing, and legal.
"Intelagrid has created a disruptive solution that will change the way utilities and their end customers manage and monitor electricity usage. We are excited to be involved with such an innovative company and look forward to continuing to provide strategic support as well as future capital needs as the company continues to grow", said Mark Jones, CPA, Mst of Mark A. Jones & Associates, PC -a leading professional services and consulting firm based in Richmond, speaking on behalf of the investment team.
About Nexgrid
Nexgrid, LLC is a US based company that
provides an end-to-end solution for wireless
smart grid and advanced metering.
Nexgrid's products provide utility companies
and consumers the ability to manage and
monitor their smart grid and smart home
networks. Nexgrid's solutions
utilize high speed, 100% standards-based
communications providing real-time data that
enables energy management and utility
operations. In addition to advanced
metering of electric, water and gas, Nexgrid
manufactures load control devices, capacitor
bank controllers, thermostats and street
light control hardware. Lastly, their
ecoOne enterprise software provides meter
data, network, load control, street light,
outage and customer portal management all in
one easy to use platform.
For more information, visit: www.nexgrid.net.
Media Contact
Erin Turner
erin.turner@nexgrid.net
888-556-0911 ext 1001
