EcoDog’s Home Energy Monitoring Product Sniffs Out Energy Savings
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monitoring device in his garage, and the startup is now looking to grow. Fido graduated from beta testing in 2008 and is in a limited release pilot program this year. The company is seeking $5.2 million in angel funding to support its continued efforts to commercialize Fido on a broad scale. As we reported last month, Tom Page, former chairman and CEO of San Diego Gas & Electric and its corporate parent Enova (now Sempra Energy), became EcoDog’s first angel, although the amount of his investment was not disclosed.
Pitt says Fido occupies a particular niche, one that large industrial energy management devices are not suited for. Eventually, Fido also could have small-scale commercial applications in “mom and pop” type shops. But for now, EcoDog is focusing on the residential market. They’re targeting contractors and home construction companies, especially those specializing in “green remodeling”.
“We’re the poster child for a classic startup model,” says Pitt. Despite the tough climate for venture funding, he’s confident that EcoDog can soar on the wings of angel investors. In the current economy, Pitt says it doesn’t hurt when”you mention that you can save fifteen, twenty percent on your utility bill, and people’s ears perk up immediately.”
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