Enbala Power Networks, a Canada-based developer of smart grid technology, has attracted an $11m series C round from investors including GE Ventures, the corporate venturing arm of conglomerate General Electric and electricity provider Edison Energy.
Export Development Canada, EnerTech Capital Partners, Sorfina Capital and Chrysalix EVC also participated in the round.
In 2013, Enbala obtained a $7.4m series B round from Chrysalix, EnerTech Capital , Export Development Canada and XPV Capital. The same investors, and Walsingham Fund, also provided a $8m series A round in 2010.
Enbala plans on using the new funding to extend and further develop its technology. The company’s platform is able to aggregate, control, optimise and dispatch distributed energy in real-time.
Oded Rhone, vice-president of strategic planning for utility company Edison International, Edison Energy’s parent company, said: “Our capital investment in Enbala and its energy balancing platform underscores our confidence in the future of distributed energy and in Enbala’s ability to meet the issues facing our industry.”