We are a leader in the development of software solutions for critical infrastructure and we announce that we have raised 7.5 million euros from Paris Fonds Vert and existing investors. Paris Fonds Vert is a growth capital fund for the ecological transition of large cities, managed by Demeter and supported by the Paris City. This investment will allow us to further accelerate our international growth and to broaden our solution portfolio.
In order to meet the growing challenges in the energy sector worldwide, it is necessary to digitalise processes but also to rethink established business models and solutions. We are solely dedicated to help our customers addressing these challenges. Our software solution enables utilities, cities and other energy related companies to manage the transition from basic, manually read meters to meters which are directly connected to the digital software landscape of the future. This is a basic need as smart metering is widely regarded as the cornerstone for future smart grids and concerns all kind of business processes and data processing.
René Böringer, Managing Director and Co-founder of Cuculus comments: "Finding the right investor sharing both the ambitions but also the core values of a company, is the foundation for the extraordinary development of a company like Cuculus. We are very pleased to welcome Demeter and Paris Fonds Vert in our group of investors and are deeply impressed by the network of energy and sustainability focused companies and organisations that Demeter can open up for us. We are looking forward to jointly focus on growing Cuculus’ business in its core area of software for a more sustainable energy world.”
Holger Schragmann, Partner Germany at Demeter (Paris Fonds Vert) states: "We are very pleased to support Cuculus and its Management Team in their further international growth and the further product development especially in France. We are convinced by Cuculus' brilliant technological solutions and their relevance to meet the needs of cities and utilities who continue the rollout of connected meter and smart grid technologies driven by the global desire for energy efficiency, better grid monitoring and reducing losses. We consider Cuculus' solutions as a technological cornerstone for complex smart city, smart metering and smart grid projects and the potential software backbone of utilities´ IoT applications. Through this investment by Paris Green Fund, Demeter has the chance to bring all its expertise and network to help developing an international champion providing software enabling the transition to more sustainable cities."
Demeter (www.demeter-im.com) is a major European player in private equity for the energy and environmental transition. Its funds invest between 1 and 30 million euros to support companies in the sector at all stages of their development: innovative start-ups, fast-growing SMEs and large enterprises, and infrastructure projects. The Demeter team has 36 people based in Paris, Lyon, Bordeaux, Grenoble, Metz, Madrid and Düsseldorf, manages €1 billion and has made 160 investments since 2005. Paris Fonds Vert is a growth capital fund with a territorial impact created at the initiative of the City of Paris to accelerate the energy and ecological transition of large metropolises.