As part of the on-going trend of big money VC rounds, broadband-over-wireline company, Current Communications raised another $130 million, this time from General Electric, TXU and Sensus Metering Systems. The company in 2005 had received about $100 million from Google, Earthlink and Goldman Sachs.
The latest funding news was dug-up by Wired News. Current, currently provides BPL in Cincinnati and is working with TXU to provide similar service in Dallas. The company is also bidding for advanced wireless spectrum as part of a consortium called, Pop Wireless.
Broadband over Powerline is a technology that allows consumers to connect to the internet by plugging a special modem into their electric outlet, which is part of a power company’s IP network. FCC has seen BPL as the third pipe into the home, though, that has still remained more hope than reality. We have been skeptical of BPL for a while, and that position hasn’t changed. Despite raising hundreds of millions, companies like Current have still not gained any meaningful traction in the marketplace.