Black Coral Capital sparks $5.5m Powerit C round

Dec 10, 2012 • Joanne Faulkner

US-based energy efficiency provider Powerit closes a $5.5m Series C round led by Black Coral Capital.

Private equity fund Black Coral Capital has led a $5.5m Series C round, which includes a $3m initial raise in April, into Powerit Solutions, a manufacturer of energy demand management technology for industrial customers backed by funds of Germany-based industrial conglomerate Siemens and steel company ArcelorMittal’

Powerit will use the new funds to pursue partnerships, expand sales to Europe, and launch a cloud-based version of its Spara EMS technology in 2013.

Powerit raised $5m in March last year from a consortium…

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