Silver Spring Networks secures $17.4M funding for Smart Grid

Silver Spring Networks secured $17.4m in funding during its third round of funding.

The investors included Foundation Capital and Edison Electric Institute, according to VentureWire, which obtained a filing document. Silver Spring also raised $40 million last year.

Silver Springs makes internet protocol equipment for utilities, to help report back on electricity usage in real time. The company will also work with a meter manufacturer, Landis+Gyr, to add the equipment into the meters it manufactures.