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San Jose-based Varentec, a provider of power control solutions for the electric grid, has closed $8 million in Series B funding from Bill Gates and Khosla Ventures.

Varentec says the capital will fund the production rollout of its intelligent power monitoring, control and data analytics solutions for U.S. and international electric utilities and various industrial applications.

"With multiple successful pilots at investor-owned utilities and co-ops, Varentec is now poised for production rollouts of our Edge of Network Grid Optimization (ENGO) solutions," says Deepak Divan, co-founder, president and chief technology officer of Varentec. "This Series B funding, with the backing of investors like Bill Gates and Vinod Khosla, not only validates our unique approach, but enables us to solve present grid challenges, such as energy conservation, grid optimization and grid integration of rooftop PV."


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