Cuculus, a Developer of Smart Metering and Home Control Solutions, attracts new investors

(PresseBox) ( Bonn / Ilmenau, )
Cuculus GmbH today announces the completion of a 2.6 million Euro financing round to fund the continued deployment of its smart technologies in the utility and telecom markets. The round was led by Yellow&Blue Investment Management, a Dutchbased clean energy investor. Additional investors are KfW along with existing investors High-Tech Gruenderfonds, Siegmund Beteiligungsgesellschaft and management.

Established in 2007, Cuculus helps utilities deliver Smart Metering by connecting electric, gas and water meters to a robust IT platform that can be integrated with utilities existing backend systems. The Company has also developed the necessary infrastructure to support the management of home appliances ("Home Control") for utilities and Internet Service Providers (ISPs). Cuculus is managing projects for a number of German utilities and maintains a strong network of solution partners, developers and device manufacturers across Europe.

René Boeringer, Founder and CEO of Cuculus, commented, "We are delighted with the commitment from our new investors. The extra funding will enable us to further strengthen our position as a technology provider to utilities and ISPs and will mean an acceleration of our roll out plans in Germany."

Albert Fischer, Managing Director of Yellow&Blue Investment Management, said, "Cuculus has an impressive customer proposition and we are excited about the prospect of further expansion. Favourable market conditions, supportive legislation and early sales successes signal that now is the time to accelerate development. The Cuculus team is well positioned to capture Smart Metering and Home Control opportunities and we look forward to working with them."

About Cuculus GmbH:

Cuculus provides utilities and ISPs with solutions for Smart Metering and inhome device management ("Home Control"). The company was spun out from Ilmenau University of Technology and IDEO Laboratories in 2007.

About Yellow&Blue Investment Management B.V.:

Yellow&Blue Investment Management is an independent venture capital firm specializing in development stage clean energy investments. Yellow&Blue was founded in 2008 by Nuon, a major energy company in the Netherlands.

About KfW Bankengruppe:

KfW finances and supports, among other things, business startups, small and mediumsized enterprises (SME) as well as investments in economic growth and employment projects in Germany. The ERP-Startfonds, administered and cofinanced by KfW, offers equity financing for innovative, technologybased enterprises with excellent growth prospects. The fund finances research and product development as well as the launching of new products, procedures and services. Since 2004, the 470 million Euro ERP-Startfonds has allocated €300 million to emerging technologybased companies.
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