Energate, an Ottawa, Canada-based provider of home energy management solutions for utilities and their consumers, has secured $7.2m in Series B funding.
The investment was led by Cycle Capital Fund I, L.P., with participation from new and existing investors. The Ontario Capital Growth Corporation’s (OCGC) Ontario Emerging Technology Fund (OETF) also participated.
The capital infusion will be used to increase sales while supporting the company’s ongoing product development efforts and strategic partnerships.
Among its home energy management solutions, the company provides software, wireless communications, gateways, smart thermostats, switches and consumer energy displays.
Founded in 2004, Energate also operates offices in North Carolina, Toronto and California.