Smart-meter deployment is happening all across the continent (and beyond) and the funding keeps rolling in, in increasingly large tranches. Trilliant, a smart-grid startup, announced today that it has raised $40 million in equity investment. The round was lead by MissionPoint Capital Partners and included zouk ventures, each of which has added a member to Trilliant’s board. The company says it will use the funding for the usual global expansion.
Formed in 2004, Trilliant is one of the larger players in the fast moving smart meter world and recently passed the 750,000 mark for delivered devices. The startup says its on track to deliver 1.3 million meters to Hyrdo One, along with its partners Capgemini, GE and Motorola, in what will be one of the largest smart meter deployments ever. Trilliant built its base on its acquisition of Nertec, an automated metering veteran founded in 1985, and raised $10 million as part of a merger with OZZ Energy Services last year. The startup is currently headquartered in Redwood City, Calif.
The smart grid space is full of overlapping startups that are complementary competitive. Like many of its competitors, Trilliant uses a ZigBee wireless network, increasingly a favorite in the smart-energy home because of its low energy draw combined with its security offering. Trilliant also shares partner Landis+Gyr, a century-old metering vet, with Eka. Trilliant has a diverse partner base including utilities like Hydro One and Jamaica Public Service, demand response firms like Energate, and electronics designer and manufacturer Advanced Innovations.
Trilliant’s diverse partner base is pushing a huge amount of its hardware and software out into the field, fueling further partnerships. With the 1 million mark for delivered devices quickly approaching, Trilliant is solidifying its presence in the smart-metering world.