Smart Grid Startup eMeter Secures $12.5M

San Mateo, Calif.-based eMeter Corporation, a developer of management software for the smart grid industry,? has raised $12.5 million in new funding? from returning investors Sequoia Capital and Foundation Capital. Northgate Capital also participated as a first-time investor.

EMeter’s software help integrate smart grid technology to current power distribution infrastructure. The company says it will use the cash on product development and marketing.

In the U.S. some of the company’s recent utility customers include Bluebonnet Electric Cooperative, Burbank Water and Power, Centerpoint Energy and Central Vermont Power.

EMeter previously raised over $32 million, reports PeHUB.

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