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Vutiliti, the innovative smart utility monitoring company based out of Salt Lake City, Utah, has completed a $11.75 million Series A financing. The round was led by Constellation Technology Ventures, the venture investing arm of Exelon Corporation, and Cycle Capital Management. Also invested are Chevron Technology Ventures, University Venture Fund, and a continuing investor, Kickstart Seed Fund. The funding will accelerate Vutiliti’s global expansion and development of its proprietary HotDrop™ technology and utility monitoring systems.
Vutiliti is an energy data company that focuses on utility efficiency through detailed, timely and accurate measurement data. This data is challenging to obtain affordably in real time and at scale. Vutiliti can help companies solve these challenges with the first truly wireless, LoRaWAN enabled energy meter called the HotDrop™. Each meter can be safely installed in less than two minutes without wires, batteries, or the need to de-energize circuits, and is small enough to fit in the palm of your hand. Each meter is securely cloud-connected to enable real-time data insights. Vutiliti leverages this location-specific information to allow customers to improve their energy efficiency performance, reduce their carbon footprint, and lower their utility bills. (Source: Company Press Release | 04.28.20)
ROTH Capital Partners acted as financial advisor to the company.
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