Varentec, a San Jose, California-based provider of power control solutions for the electric grid, raised $8m in Series B funding.
Backers included Bill Gates and Khosla Ventures.
The company intends to use the funds for the production rollout of its solutions and various industrial applications.
Led by Deepak Divan, Co-Founder, President and CTO, Varentec provides US and international electric utilities with intelligent power monitoring, control, and data analytics solutions that deliver energy savings, voltage & VAR control, demand management, improved asset utilization, and grid visibility for utilities and industrial applications.
18/01/2012: Varentec Closes $7.7M Series A Funding