Energy demand management software for a sustainable future

Copper Labs announced today it has successfully secured $2 million in new financing in a funding round led by Moonshots Capital, propelling the Boulder company into a projected $12 billion marketplace.

As part of the deal, Craig Cummings, co-founder and general partner at Moonshots Capital, and Dr. Carolin Funk at Blue Bear Capital will both join Copper Labs’ board.

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Boulder’s Copper Labs is helping utilities become more efficient, providing real-time energy usage data to the consumers and companies with a wireless solution.

The company announced Thursday that it has raised $2 million in new financing to further build out its product and team.

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24 Colorado companies were approved to receive Proof-of-Concept and Early Stage Capital and Retention grants, which fund companies commercializing innovative technologies to create viable products that meet a market need and can be created or manufactured in Colorado and exported globally.

One Colorado company – Copper Labs – successfully met all of its performance milestones and was approved for $100,000 of second-round or “transition” funding.

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The internet of things (IoT) is a megatrend influencing nearly every industry, and few more so than energy utilities. The confluence of reliable, low-cost wireless technology, greater industrial automation, and data analytics is leading to a more responsive energy grid that lowers costs for both utilities providers and consumers.

Copper Labs, based in Boulder, Colorado, is one company helping make this trend a reality. Founded by IoT veterans, the startup is giving energy a voice through user-friendly energy monitoring devices.

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Copper Labs was among the 24 Colorado start-ups approved for funding this year as part of the Colorado Office of Economic Development and International Trade (OEDIT)’s Advanced Industries Accelerator Grant Program.

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