Ember adds $8 Million in new financing

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Boston: Fueled by the significant surge in the deployment of smart meters, Ember, a provider of ZigBee wireless networking technology, has raised an additional $8 million in funding from its primary venture capital investors and strategic partners. Polaris Venture Partners, GrandBanks Capital, RRE Ventures, Vulcan Capital, DFJ ePlanet Ventures, New Atlantic Ventures, WestLB Mellon Asset Management (formerly West AM) and strategic partners such as Chevron Technology Ventures and Stata Venture Partners participated in the round. This new round combined with existing investments from ST Microelectronics, Hitachi and MIT bring the total capital Ember has raised to $89 million. "ZigBee standards extend the developing 'smart grid' out to the billions of devices, appliances and equipment where most energy efficiency goals will be achieved," said Ember chairman and Polaris Partner Bob Metcalfe. "Smart meters now being equipped with ZigBee-standard Ember radio chips and protocol software are serving as energy management gateways between utilities and consumers. Ember revenues accelerated in 2008 and, with the increasing international emphasis on energy management, we are preparing Ember for continued rapid growth in 2009," he added. The market for 802.15.4/ZigBee devices is expected to reach as high as 292 million units in 2012, up from about 7 million units in 2007, according to research firm, In-Stat. Ember's investors recognized that the company has established itself as the dominant market leader of ZigBee technology which is a critical enabler of smart metering initiatives. These initiatives will have a pivotal impact on energy management and efficiency for decades to come. As part of the recently enacted stimulus package signed by President Barack Obama, over $49 billion was allocated to transform the nation's energy system, and over $17 billion of that will be aimed at electric grid infrastructure upgrades. This national financial commitment means significant opportunity for Ember's ZigBee technology.