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Gridco Shines With $12.5 million

2011-07-11
Cambridge startup Gridco Inc. has raised $12.5 million in its first financing round, according to federal documents.
CAMBRIDGE, According to SEC filings, stealth-mode startup Gridco has raised $12.5 million from VCs General Catalyst and North Bridge Venture Partners. The firm is headed by Naimish Patel, a former Sycamore Networks executive.

According to tech columnist Scott Kirsner, Gridco is a new start-up that aims to deliver smarter power management technology to utilities and major industrial power consumers. Gridco Systems, doesn't yet have a Web site, and has been operating out of the offices of its investors, General Catalyst in Cambridge and North Bridge Venture Partners in Waltham.
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