SparkMeter, a Washington, DC-based provider of grid management services, equipment, and software solutions, raised $10M in funding.
The round, which brings total financing to $22m, was led by Accurant International with participation from Breakthrough Energy Ventures and Clean Energy Ventures.
The company intends to use the funds to introduce a comprehensive grid analytics platform to the market, accelerate growth and expand operations.
Led by CEO Dan Schnitzer, SparkMeter provides a technology platform that allows utilities to address daily challenges that arise from poor grid edge visibility, congestion, and stress on lines and transformers, and plan for new grid dynamics such as DERs and EV chargers. The technology combines real-time data streams from the edge of the utility’s network with a detailed model of the grid, creating a so-called “digital twin.”
SparkMeter will be releasing the first stage of its software platform, Koios™, in April 2022. Koios is an interface that can do meter-to-cash, detailed system insights, and smooth integrations to improve distribution system operations.
FinSMEs
25/03/2022