3M New Ventures leads $5 mln financing of Smart Energy Instruments
Smart Energy Instruments Inc (SEI) has received US$5 million in follow-on funding. 3M New Ventures, the corporate venture capital investment arm of U.S.-based 3M, led the round with the participation of return Canadian investors VentureLink Funds, ArcTern Ventures and the Ontario Capital Growth Corp. Based in Toronto, SEI is a developer of next-generation technology that precisely measures power flows on the electrical grid. Update: The company said it sees 3M as an important strategic partner with which to develop solutions for utilities and electrical equipment manufacturers. SEI was profiled in a peHUB Canada feature article in June.
25 August 2014•3 mins read
