Yorkville-based cleantech startup
MMB Research recently closed a deal to
secure $1 million in angel financing, which will be used to expand its
sales and development staff to build its business in North America,
Europe and Asia. According to MMB Director of Business Development Kevin
Downing, the financing will mean adding six new technical and sales
employees over the next six months.
The company, founded in January 2008, specializes in smart-grid
products. It has developed a software and hardware platform called
RapidSE that allows manufacturers of home appliances and electronics
devices to communicate better in a smart-grid energy saving network.
Downing says that the platform is already being used by "several
multinational organizations" to build smart appliances and devices.
Writer: Edward Keenan
Source: Kevin Downing, Director of Business Development, MMB Research