Alliander, a Netherlands-based energy network company, has joined its former parent in backing Locamation, a local developer and supplier of smart grid technology.
Locamation raised €5m ($7m) in its second financing round with Alliander joining existing investors Yellow&Blue Investment Management and the portfolio company’s management, both of which have increased their stake in this round.
Last year, Yellow&Blue transferred one of its managers, Pascal Bleeker, to Locamation as chief operations officer.
Dutch utility Nuon had founded Yellow&Blue as an…
