IoT Company With Indiana Connections Lands $10M

Posted: Updated:
INDIANAPOLIS -

Maryland-based Blue Pillar Inc., which has an office in Indianapolis, has secured $10 million from investors. The latest funding round is from a group that includes Elevate Ventures and Carmel-based Allos Venture Management Co. Ltd.

The rest of the investors include Great Plains Energy Inc.-affiliate GXP Investments, EnerTech Capital, Allos Ventures, Arsenal Venture Partners and Claremont Creek Ventures. In 2015, the company secured a $14 million round of funding from a group of investors that also included EnerTech Capital, Allos Ventures, Arsenal Venture Partners and Claremont Creek Ventures.

EnerTech Capital Managing Director Bill Kingsley said Blue Pillar's business has grown by 400 percent in five years. "Through their innovative approach, existing and new energy assets such as solar, storage and fuel cells are linked into a digitally enabled architecture, enabling control and two-way power flows. We believe Blue Pillar is well positioned to compete in an Energy IoT market reshaping how customers consume electricity."

Blue Pillar Chief Executive Officer says the infusion will help the internet-of-things platform company continue to "rapidly bring much needed disruption to the energy industry." He adds "the vision of Blue Pillar has always relied upon what could be achieved with ubiquitous access to behind-the-meter energy information and secure automated control over DERs and systems."

You can connect to more about the investment by clicking here.

  • Perspectives

    • (Image courtesy of Bedel Financial Consulting Inc.)

      Child Identity Theft: Are Your Children at Risk?

      Sounds absurd, doesn't it? However, young children are prime targets for identity theft. Experian estimates that one of every four children will fall victim to identity theft before age 18. How does this happen? More importantly, how can you prevent it from happening to your child? Untangling child identity theft can be time-consuming and costly. It could even require changing your child's first and middle name and obtaining a new Social Security number to clear his/her credit record...
    More

Events



  • Most Popular Stories

    • Mike Strohl and Rob Pruitt

      500 Festival Names Board Officers

      The Indianapolis-based 500 Festival has elected officers for its 2018-2019 board of directors. The nonprofit says Mike Strohl, chief customer officer for Citizens Energy Group, will serve as chairman of the board. Strohl previously served as vice chairman of the board for the 500 Festival. Chief Executive Officer Bob Bryant says Strohl's leadership and relational approach to the nonprofit's mission has been "exemplary."

    • The Union Club Hotel was built in 1929. (photo courtesy of Purdue University)

      $30M Gift to Fund Purdue Hotel Renovation

      Purdue University says it plans to use a $30 million gift to transform an existing building into a world-class hotel. The gift from Bruce White, a Purdue alumnus and former trustee, his wife Beth, and the Dean and Barbara White Foundation, will fund the renovation of the Union Club Hotel, which will also serve as a laboratory learning environment for students. The university says the renovations will feature upgrades in furnishings, fixtures, and amenities for the hotel, as well as a...
    • Cottongim Joins Taft’s Municipal And Legislative Team

      Taft Stettinius & Hollister LLP has added Ann Cottongim as director of municipal and legislative relations. In this role, she will direct the firm's objectives involving local and state government affairs by maintaining and nurturing relationships with municipal, county and state officials. She previously served as deputy director and CFO of Aim (Accelerate Indiana Municipalities, formerly known as Indiana Association of Cities and Towns (IACT)).

    • Indiana Sports Corp. Hires Two

      Indiana Sports Corp has named Sandy Bryant-Willis chief talent officer. She spent the last 15 years at Eli Lilly and Co. Also, Sam Elmore has been hired as business development manager. He previously worked for Pacers Sports and Entertainment in several sales roles since 2008.

    • Indiana Emergency Response Names Award Winners

      The Indiana Emergency Response Conference has presented its annual awards, honoring the best and brightest among Indiana first responders and public safety officials. The IERC serves as the annual gathering for firefighters, emergency medical services, law enforcement, emergency management agencies, hazardous materials professionals, special operations personnel and telecommunicators.