Mesh networking provider Dust Networks closes $22M Series B round of financing

February 4, 2005

2 Min Read

BERKELEY, Calif. -- Dust Networks(TM), (www.dustnetworks.com), the leading provider of enterprise-class low-power wireless mesh networking systems, today announced that it has completed a $22 million round of equity funding led by Crescendo Ventures. Cargill Ventures participated in this series B round, along with existing investors Foundation Capital and Institutional Ventures Partners. This new funding, which brings Dust Networks' total investment to-date to $30 million, comes after a recent product launch and successful customer trials.

"Dust Networks has a breakthrough technology in a compelling market space," said John Borchers, General Partner of Crescendo Ventures. "The market for Dust Networks' enterprise-class wireless sensor networks is both broad and deep with a huge range of potential applications. We are very impressed with Dust Networks' unique technology, experienced management team and compelling market vision, and are pleased to be leading Dust Networks' series B financing round."

Monica Morse, Cargill Ventures Managing Director, added, "Cargill Ventures is excited about Dust Networks' potential to transform wireless networking in hard-to-network environments, such as industrial locations. Dust Networks can lower the cost and expand the boundaries of an industrial sensor network, bringing connectivity to areas where it was never before possible."

By providing a reliable and cost-effective way to deploy wireless sensors and collect data about physical environments, Dust Networks enables organizations to reduce costs, increase efficiency, and gain greater visibility into the condition of physical assets and operating environments. Dust Networks' SmartMesh products are designed for enterprise-class monitoring and control applications in building automation, industrial monitoring and security markets, including energy monitoring, HVAC systems, machine-health, and perimeter security.

"We are pleased to have such an experienced and committed group of investors supporting the company," said Joy Weiss, President and CEO of Dust Networks. "Our series A funding brought us through product development, successful customer pilots, and ultimately the successful launch of our flagship product: the SmartMesh wireless sensor network system. With this additional funding, we will expand Dust Networks' sales and marketing efforts to satisfy growing customer demand for the products and solidify Dust Networks' position as the market leader."

Dust Networks

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like