Wednesday, June 16, 2010

GreenWave Reality Gets $11M

Irvine-based GreenWave Reality, a firm developing a home energy management platform, has raised $11M in an equity funding round, according to the firm today. The funding came from Craton Equity Partners, which contributed $5M to the funding, along with the Singapore Economic Development Board and other, un-named strategic investors. GreenWave Reality is developing an energy management platform which allows consumers to monitor and control their energy consumption, which combines energy monitoring with Zigbee compatible, power control strips and outlets. Those products allow users to shut down specific appliances via software to reduce or shift their energy load. Greenwave also says it is developing computer-controlled, LED lightbulbs that work with its system. The firm has operations in Irvine; Copenhagen, Denmark; and Singapore. The company said the funding will allow it to expand its pilot products. As part of the funding, Craton Equity Partners' Kevin Wall joins the company's board of directors. More information »

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