Rancho Bernardo-based On-Ramp Wireless, which makes wireless monitoring gear for the electrical distribution industry, said it brought in an additional $15 million in venture capital.
The infusion brings On-Ramp’s Series C round up to $31 million.
The new funds came from new investor Enbridge as well as existing investors Energy Technology Ventures and Third Wave Ventures. Energy Technology Ventures is a joint venture of GE Ventures, NRG Energy and ConocoPhillips.
On-Ramp Wireless, which specializes in machine-to-machine communications, said it would use the new funds to further commercialize its smart grid and digital oil field solutions.
The company said it plans water and natural gas offerings next year.
Kevin Hell is CEO of On-Ramp Wireless.
— SDBJ Staff Report