Tantalus Systems, a Raleigh, N.C.-based smart grid solution provider for municipal and cooperative utilities, raised $6M in funding.
Backers included new investors CT Innovations and Vareco Holdings, as well as major existing shareholders.
The company intends to use the funds to expand its integrated smart grid applications ecosystem.
Led by Peter Londa, President & CEO, Tantalus provides a smart grid platform, TUNet, that enables access to data to power advanced Smart Grid applications for monitoring and control of electric, water and gas municipal and cooperative utilities.
It is now deployed across more than 115 utilities in North America, Latin America and the Caribbean.
The company is now advancing system enhancements and new functionality to its networked endpoints through remote firmware upgrades.