US venture capital firms .406 Ventures and Physic Ventures invest in smart grid company EnergyHub

8th April 2009

Smart grid company EnergyHub has closed a Series A round co-led by US venture capital firms .406 Ventures and Physic Ventures. Terms of the investment were not disclosed.

The company will use the proceeds from this financing to support continued product development and to implement pilot programmes with utilities across the US, according to a statement.

EnergyHub’s solution integrates in-home devices, stand-alone displays, and web-based software, gives consumers real-time information and control over their energy usage.

‘EnergyHub empowers home owners to easily save energy and money while making it possible to tap the full potential of the smart grid as it becomes available. EnergyHub’s affordable and accessible platform has a great opportunity to make a positive and lasting impact on sustainability,’ said William Rosenzweig, managing director of Physic Ventures.

.406 Ventures’ managing director, Liam Donohue, added, ‘EnergyHub is providing a much needed two-pronged approach to decreasing per capita consumption. The company offers consumers unprecedented control of their energy use while enabling utilities to better manage their territories.’

EnergyHub also announced that Donohue and Physic Ventures’ director Andrew Williamson will join its board of directors.

.406 Ventures is an early-stage venture capital firm that invests in IT and services companies.

Physic Ventures is based in San Francisco and invests in keeping people healthy by providing capital and expertise to science-based, consumer-driven health, and sustainable living companies.

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