Varentec Gets $7.7M in VC Round

Recently, Varentec received US$ 7.7 million from investors led by Khosla Ventures. Varentec is a Menlo Park based startup working on the concept of utilities giving digital control over power grids.  In October 2011, Varentec received US$ 5 million from an ARPA-E Grant for the GENI program, together with a group of partners that include EPRI, NEETRAC, Waukesha Electric (SPX) and NEETRAC/Georgia Tech University. Before that in November 2010, Varentec earns a $2.2m grant by the Department of Energy for technologies to improve stability on the electric grid.