Kelowna’s Awesense Wireless announced last week that they have recently secured private equity funding and it is rumored to be in the seven figures.
Awesense was recently named of of British Columbia’s 20 most innovative companies by BC Business Magazine and selected by Rocket Builders for their 10th annual “Ready to Rocket” list of BC tech companies that are best positioned to capitalize on the 2012 technology sector trends.
Awesense helps utilities identify and reduce energy losses by using their power line measurement system. Awesense addresses the problem of the significant energy that is lost in the distribution of electrical energy due to system load issues and commercial losses including power theft and meter failures.
Industry estimates place these avoidable losses at $10 billion per year in North America. Reducing these losses directly impacts the costs passed onto consumers. Awesense is dedicated to providing utilities with intuitive tools to reduce these losses.
“This is a major milestone in the continued growth of our company,” said CEO Mischa Steiner-Jovic. “We are now well positioned to take our company to the next level and execute on our long term strategic vision.”