Funding
Cuculus GmbH has announced the completion of a €2.6 million financing round to fund the continued deployment of its smart technologies in the utility and telecom markets. The round was led by Yellow&Blue Investment Management, a Dutch-based clean energy investor. Other investors are KfW, along with existing investors High-Tech Gründerfonds, Siegmund Beteiligungsgesellschaft and the company’s management.
Cuculus helps utility companies to install smart metering, connecting electric, gas and water meters to a common computer system that can be integrated to each utility company’s existing back-end systems.
Cuculus has also developed the infrastructure to support the management of home appliances for utilities and Internet Service Providers and is managing projects for a number of German utilities.
René Boeringer, founder and CEO of Cuculus, said, “We are delighted with the commitment from our new investors. The extra funding will enable us to further strengthen our position as a technology provider to utilities and ISPs and will mean an acceleration of our rollout plans in Germany.”
Cuculus was spun out from Ilmenau University of Technology and IDEO Laboratories in 2007.
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