Current Technologies last week received $10 million in first-round financing that it will use to continue refining its technology and to pursue partnerships with electric utilities interested in deploying its offerings. Current delivers two-way, high-capacity voice, data, and video communications on electrical wires. EnerTech Capital Partners and Liberty Associated Partners co-led the $10 million round.
Current is the first company that's figured out how to communicate over high-voltage electrical cables used in power distribution systems, says Michael Bevan, an EnerTech principal.
Developers of the technology envision power companies using it to offer broadband communications services to their customers, who could tap into high-speed Internet or cable-TV signals by plugging a receiving device into electrical outlets in their homes.
The Business of Going DigitalDigital business isn't about changing code; it's about changing what legacy sales, distribution, customer service, and product groups do in the new digital age. It's about bringing big data analytics, mobile, social, marketing automation, cloud computing, and the app economy together to launch new products and services. We're seeing new titles in this digital revolution, new responsibilities, new business models, and major shifts in technology spending.