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[July 18, 2013]
On-Ramp Wireless secures additional $15 million in Series C funding round
Jul 18, 2013 (Datamonitor Financial Deals Tracker via COMTEX) -- On-Ramp Wireless, Inc. , a US-based developer of wireless solutions for energy automation and machine-to-machine (M2M) communications, has secured an additional $15 million in Series C funding round from Enbridge, Inc., and existing investors Third Wave Ventures and Energy Technology Ventures.
Enbridge is a Canada-based company engaged in the energy transportation and distribution.
This brings the total raised in the Series C round to $31 million.
Deal Value (US$ Million) 15 Deal Type Venture Finance Sub-Category Growth Capital/Expansion Deal Status Completed: 2013-07-17 Deal Participants Target (Company) On Ramp Wireless, Inc.
Acquirer (Company) Enbridge, Inc.
Deal Rationale On-Ramp Wireless will use the funds to continue to expand its ecosystem of application partners in its energy markets and extend into new adjacent verticals through its strategic partner program.
The funds will be used to further commercialize On-Ramp Wireless' smart grid and digital oil field solutions.
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