On Tuesday, a San Diego-based startup Grid2Home raised $2.6 million in a new round with its previous investors, Granite Ventures according to a new SEC filing.
The company sells integration software and systems to: semiconductor manufacturers, smart device makers, utilities and automotive companies, currently. Its technology ensures that grid-connected devices — like smart home meters, and household appliances — communicate effectively with power providers’ systems, and vice versa.
Systems integration allows power providers to use the data generated by a wide variety of devices and different networks to deliver electricity more efficiently and economically.
According to The Smart Grids: A Global Strategic Business Report by the research firm Global Industry Analysts, the world market for smart grids overall will likely reach $186.7 billion by 2015, driven by increasing demand for electricity, policy and safety requirements that call for aged electrical infrastructure to be replaced with newer systesm, and by environmental concerns related to the development and use of more renewable sources of energy.