SparkMeter, a Washington, DC-based provider of grid management services, equipment, and software solutions for communities across Africa, Asia and the Americas, raised an investment of $5M from Honeywell Smart Energy.
The company intends to use the funds to transcend the small microgrid market and up into the larger global utility market. Under the partnership, Honeywell Smart Energy will provide its base of US utility customers with SparkMeter’s integrated approach to cloud-based metering and operational analytics software and offer SparkMeter’s metering hardware to large emerging market countries.
Led by CEO Dan Schnitzer, SparkMeter provides grid-management solutions used to emerging markets, where 2.1 billion people live without reliable electricity access. Its plug-and-play solution enables microgrids and distribution utilities operating in remote locations to access a range of features – flexible billing, customer communications, and remote monitoring and control – that improve their operations and help them achieve financial sustainability. SparkMeter is currently operating in more than 25 countries worldwide.
FinSMEs
30/11/2023