Smart-grid company Silver Spring Networks has raised $17.4 million, the latest in a string of investments in the sector.
Foundation Capital and Edison Electric Institute were the investors, according to VentureWire, which reported the news.
Silver Spring Networks does software and devices aimed at utilities that are looking to upgrade to smart-grid infrastructure.
The company makes devices on utility poles that can broker information over IP (Internet Protocol) from people's home smart meters and grid operation centers.
Utilities are starting to invest in advanced meters and networking to make power distribution more efficient and cut down on service … Read more