Nexgrid Closes Capital Raise Round
10/1/2014 - Nexgrid, a leading provider of advanced metering and smart grid infrastructure based on open-standards, today announced that it has secured significant funding from private equity investors in order to continue it’s growth and innovation in the smart grid space. Nexgrid will use the proceeds from this financing round to expand it’s research and development efforts, bring additional products to market, and bring on new sales and customer support executives.
“We are excited to be a part of the growth and expansion of Nexgrid. The investor group fundamentally believes that Nexgrid is uniquely positioned to capitalize on the underlying growth in the smart grid and advanced metering technology market. Nexgrid’s disruptive solution continues to change how utilities think about deployment of their smart grid infrastructure”, said Tom Chewning, former CFO of Dominion Resources and a Board Member of Nexgrid.
“The interest shown during the process by seasoned investors continues to validate our vision and direction. Our commitment to delivering cost-effective market-leading solutions has led to tremendous growth over the past few years. The additional capital secured will allow us to continue to accelerate our growth trajectory while broadening our product portfolio and level of support for our customers” said Costa Apostolakis, Founder & CEO of Nexgrid.