July 21, 2009
VC Firm, the Quercus Trust Leads Investment of an Undisclosed Amount in Series B Funding for Advanced Telemetry
Based in San Diego, California, Advance Telemetry, the producer of EcoView, announced today that it had raised an undisclosed amount in series B funding led by the Quercus Trust and 21 Ventures also participating in this round of funding. Both vc firms are existing investors into the company and both participated in series A funding last year.
Advanced Telemetry is a power company that creates energy resource management systems for both residential and small business outfits. The main system that Advanced Telemetry has developed is the EcoView system. According to the company website, EcoView comes in two packages. The first package is the EcoView Residential, which is the energy resource management system solely for residential uses and helps homeowners make the decisions to reduce useless energy consumption and saving the homeowner money and makes the home more green.
The second package is the EcoView Commercial, which is designed to save businesses extra money in energy costs by providing the necessary software to manage the businessâ€™s energy consumption without the costly time wasted in calculating everything.
Proceeds from this round of funding will go to help Advanced Telemetry increase production and broaden the sales channels of the companyâ€™s flagship EcoView, both residential and commercial versions.
According to Advanced Telemetryâ€™s CEO, Gus Ezcurra, the team at Advanced Telemetry is overjoyed to have both the Quercus Trust and 21 Ventures on board for this round of funding. These two vc firms have supported the company in the past and as far as Mr. Ezcurra is concerned, the two vc firms have been strong supporters of Advanced Telemetry since the companyâ€™s inception.
Advanced Telemetry is already doing very well and its EcoView Commercial is already in use in several well known franchises, including Taco Bell, Burger King, Arbyâ€™s, and Bar-B-Q along with other businesses. All of these firms have stated that Advanced Telemetry has helped them tremendously in conserving energy and saving both time and money. Furthermore, the above mentioned franchises also state that the EcoView package helps them energy costs, and installation of the EcoView Commercial package was quite easy. Furthermore, the benefits that these businesses reap from this system can be endless, freeing up more money that would normally go to paying energy costs.
21 Ventures is a vc firm that literally advertises itself as being an â€œincubator for technology companies.â€ The criteria for receiving an investment from 21 Ventures is that your company must be in the energy or tech industry and you must have a product that is unique and innovative with the potential of dominating your industry through the 21st century. 21 Ventures was founded in 2003 and has since funded seed and early stage companies globally. Some other companies in 21 Venturesâ€™ portfolio include CPT, Energy Focus, ETV Motors, Free Green, ReGen Power Systems, and others.
For information about the Quercus Trust, you must email them by clicking on their website, which only has the company logo on it.
For more information about Advanced Telemetry, click here.