Cuculus GmbH, a Ilmenau, Germany-based provider of utilities and Internet Service Providers with solutions for Smart Metering and in-home device management (Home Control), completed a €2.6m financing round.
The round was led by Yellow&Blue Investment Management. Additional investors include KfW, High-Tech Gruenderfonds, SIEGMUND Beteiligungsgesellschaft and management.
The new capital will be used to fund the continued deployment of the company’s smart technologies in the utility and telecom markets.
Established in 2007, Cuculus helps utilities deliver Smart Metering by connecting electric, gas and water meters to a robust IT platform that can be integrated with utilities existing back-end systems.
The company has also developed the necessary infrastructure to support the management of home appliances (Home Control) for utilities and Internet Service Providers. Cuculus is managing projects for a number of German utilities and maintains a strong network of solution partners, developers and device manufacturers across Europe.
Commenting on the round, René Boeringer, Founder and CEO of Cuculus, said that: “The extra funding will enable us to further strengthen our position as a technology provider to utilities and ISPs and will mean an acceleration of our roll out plans in Germany”.