SparkMeter is a Washington, DC-based provider of grid-management services, metering equipment, and cloud software used by communities across Africa, Asia and the Americas. Its plug-and-play solution enables microgrids and distribution utilities in remote locations to access flexible billing, customer communications, and remote monitoring and control. The company offers integrated cloud-based metering and operational analytics software alongside metering hardware. Led by CEO Dan Schnitzer, SparkMeter operates in more than 25 countries and targets emerging markets where 2.1 billion people live without reliable electricity access. SparkMeter raised a $5M investment from Honeywell Smart Energy and intends to use the funds to move from the small microgrid market into the larger global utility market. Under the partnership, Honeywell Smart Energy will introduce SparkMeter’s solutions to its US utility customers and offer SparkMeter’s metering hardware to large emerging market countries. SparkMeter provides a technology platform that ingests real-time data streams from the edge of a utility’s network and overlays them on a detailed model of the grid to create a digital twin. The company’s stack includes hardware and software for meter-to-cash workflows, detailed system insights, and integrations to improve distribution system operations. Led by CEO Dan Schnitzer, SparkMeter addresses visibility, congestion, and stress on lines and transformers while helping utilities plan for DERs and EV chargers. The company plans to introduce a comprehensive grid analytics platform and will release the first stage of its software platform, Koios™, in April 2022. SparkMeter intends to use the new funds to accelerate growth and expand operations. The recent financing round brought the company’s total financing to $22M and signals expanded runway for product rollout and market expansion. SparkMeter provides grid management services, hardware, and software that bring smart metering and analytics to utilities serving underserved communities in Africa, Asia and the Americas. The company is launching a new Digital Solutions offering to connect smart-grid data insights to business operations for large electricity distribution utilities in emerging markets. Digital Solutions will help utilities digitalize operations, assess areas for improvement, and deploy customized algorithms and solutions to improve business performance. The service can enable utilities to avoid capital upgrades through non-wires alternatives such as distributed energy resources and load management. SparkMeter says the offering will expand its market presence across Africa and Asia while opening opportunities for distribution utilities globally to improve financial and environmental sustainability. Led by co-founder and CEO Dan Schnitzer, the company recently completed a $12M Series A.

Total raised

$27M

Funding rounds

3

Latest round

Equity

Latest activity

Nov 2023