Smart grid company Trilliant Inc. announced the closing of a $106 million financing round.
Trilliant provides standards-based, real-time Smart Grid communication network solutions. The company says its multi-tier architecture, which connects utility distribution, metering, and consumer energy management devices, is the industry’s only fully integrated end-to-end Smart Grid solution.
The round was led by Investor Growth Capital--the venture arm of Sweden's Investor AB (IVSBF.PK)--and VantagePoint Venture Partners. Switzerland's ABB and GE (NYSE: GE) also contributed.
The financing includes a "significant" credit facility from an unnamed venture credit provider as well as continuing financial support from existing investors MissionPoint Capital Partners and zouk ventures.
The new investment will be used to finance Trilliant’s continued growth in North America and globally. The company says it currrently has more than 200 utility customers, including Hydro One, in Ontario, Canada. Hydro One has deployed Trilliant smart communications to over 1.1 million customers in support of what it says is the largest operating time-of-use billing program in the world
