Wireless Glue Networks, Inc. Secures $4.5 Million in Funding From Investors in
Japan and the US
LAFAYETTE, Calif., Feb. 21, 2013
LAFAYETTE, Calif., Feb. 21, 2013 /PRNewswire/ --Wireless Glue Networks, Inc.
announced today it closed a Series B round of $ 4.5 million. Investors include
Japanese firms, Innovation Network Corporation of Japan, Toko Electric
Corporation, Hosiden Corporation, and US venture capital firm, Clean Pacific
Increased limitations in electricity supply along with pressures to manage
capital and operational spending have resulted in accelerated efforts to
optimize existing energy resources by applying information and communications
technology to the existing electrical distribution system, through demand
response (DR) and energy management systems. The acceleration of these
efforts has been particularly acute in Japan following the Great East Japan
Earthquake of March 2011 and the resulting decrease in nuclear generation
However, there is a wide range of different standards and communications
systems used around the world to control ventilation and lighting in
factories, commercial buildings, and homes.
Wireless Glue's SmartEdge M2M software platform allows diverse communication
systems and standards to communicate and cross-connect with each other on a
"Out of necessity, Japan is poised to be a leader in the world energy market,"
said Peter McCabe, President and CEO, Wireless Glue Networks. "Our SmartEdge
M2M platform provides real-time control and energy data between buildings and
the cloud for aggregated energy management and DR applications that is
scalable and cost-effective because it utilizes existing infrastructure."
"Wireless Glue's platform differs from anything else we have seen and its
position in Japan provides a significant advantage to deployment in a rapidly
advancing market," said Sean Schickedanz, General Partner and Chief Investment
Officer of Clean Pacific Ventures.
About Innovation Network Corporation of Japan (INCJ)
The INCJ was established in July 2009 as a public-private partnership that
provides financial, technological and management support for next-generation
businesses. The INCJ specifically supports those projects that combine
technologies and varied expertise across industries and materialize open
innovation. For more information, visit http://www.incj.co.jp/english/
About Toko Electric Corporation
TOKO ELECTRIC CORPORATION (Public, TYO: 6921) is a Japan-based Tokyo Electric
company (TEPCO) mainly engaged in the manufacture and sale of electric meters
and related infrastructure products. For more information, visit
About Hosiden Corporation
Manufacturing and selling of electronic and information & communications
equipment. For more information, visit www.hosiden.co.jp
About Clean Pacific Ventures Management LLC
Based in San Francisco, Clean Pacific Ventures Management is an independent
venture capital company, which primarily invests in early-stage clean
technology companies. For more information, visit www.cleanpacific.com
About Wireless Glue Networks, Inc.
Wireless Glue is a United States-based company with offices in Japan that
delivers software and hardware solutions that capture and deliver energy data
in real-time for the Commercial and Industrial market. For more information,
SOURCE Wireless Glue Networks, Inc.
Contact: Matt Dowling, +1-925-323-7012, email@example.com
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