Vutility to Raise Funds for Investment Round Following Record-Breaking First Quarter

Vutility a leading provider of real-time energy monitoring and submetering solutions, announced today that it will begin fundraising for a A+ Round investment following a record-breaking first quarter in 2023. The company achieved nearly 200% of its 2022 sales during the first quarter of 2023 and will begin meeting with investors in the second quarter. Vutility will kick off their fundraising activities with a presentation to the investor community at NREL’s Industry Growth Forum, held in Denver from May 1-3, followed by the company participating in the Emerging Tech Venture Summit in Silicon Valley from May 10-11.

The company attributes its ascension to the growing market needs, volatile and rising costs of energy, and the urgency of businesses worldwide seeking to increase operational efficiencies. The increased demand for Vutility’s products and services also follows the recent introduction of its VoltDrop three-phase power meter. VoltDrop data is combined seamlessly in the cloud with Vutility’s HotDrops, a highly-scalable, non-invasive submetering solution, to deliver instant installing, real-time, revenue grade, full-power branch circuit monitoring.

Vutility is committed to providing innovative solutions that help businesses reduce energy costs and improve operational efficiency. The company is confident that the capital raised in their A+ Round will further advance the development and expansion of its offerings. Vutility is committed to addressing the challenges organizations globally face as they pursue aggressive electrification, grid modernization, and decarbonization goals.

“We are thrilled to have achieved such tremendous success in the first quarter of 2023,” said Vutility CEO, Stephen Prince. “It demonstrates the importance of the work we do at Vutility and the yet untapped market potential of scalable real-time energy monitoring. We are confident that the upcoming A+ Round investments will help us continue to provide innovative solutions to our customers and partners, and to further expand our product offerings across the globe.”