Wednesday, 6 May 2009

Ember secures $8 million in funding

The company now has raised $89 million in total.

Ember Corporation has closed an additional $8 million in funding from its primary venture capital investors and strategic partners.

Polaris Venture Partners, GrandBanks Capital, RRE Ventures, Vulcan Capital, DFJ ePlanet Ventures, New Atlantic Ventures, WestLB Mellon Asset Management and strategic partners such as Chevron Technology Ventures and Stata Venture Partners participated in the latest round of funding.

Smart meters now being equipped with ZigBee-standard Ember radio chips and protocol software are serving as energy management gateways between utilities and consumers, said Ember chairman and Polaris Partner Bob Metcalfe.

The company, referring to projections from research firm, In-Stat, mentioned that the market for 802.15.4/ZigBee devices is expected to reach as high as 292 million units in 2012, up from about seven million units in 2007.

The company also announced the expansion of its sales channels with the addition of new distributors in Australia, New Zealand, India and Hong Kong, People's Republic of China which are emerging as key markets for ZigBee-enabled smart meters.

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