Tekpea
closedTekpea’s disruptive patent-pending technology platform.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
$700k | Convertible | ||
| Total Funding | 000k | ||
Established in 2010 and headquartered in Palo Alto, California, Tekpea operated in the Industrial Internet of Things (IIoT) sector before ceasing operations. The company specialized in developing an end-to-end platform that enabled the connection of traditional, unconnected devices to the cloud. This technology allowed for central control and automation, targeting energy efficiency and automation markets. Tekpea's core business involved providing a technology platform for device manufacturers and system integrators to create and launch connected products and energy management solutions.
The firm's system was designed for adaptability and simple integration, offering communication and control protocols to the cloud. It empowered clients to augment their existing product lines with communication capabilities, opening up new service opportunities. The platform was particularly aimed at utilities and industrial clients, enabling applications for Advanced Metering Infrastructure (AMI) and Automated Meter Reading (AMR). One of its key features was a multi-protocol communication platform that was modular and adaptable for straightforward configuration. For instance, in partnership with meter manufacturer Zenner, Tekpea's technology was used to develop new Smart Meter product lines.
Tekpea's business model focused on being a technology enabler for product companies, helping them to build and launch applications for the Smart Grid market, including demand response and home automation. The company had raised a total of $4.76 million through funding rounds, including a seed round of $637,000 in March 2013 and a later-stage venture round in August 2016. In 2016, it received an undisclosed amount of funding from FCP Innovacion, the corporate venturing arm of Colombian public utilities company EPM, to increase the use of its platform among utilities and industrial clients. PitchBook data indicates the company is now out of business as of August 2020.
Keywords: IIoT, energy management, cloud connectivity, smart grid, automation technology, advanced metering, automated meter reading, connected devices, demand response, venture capital