Grid2Home Changes Name to Kitu Systems, Raises $2.3M from Investors
San Diego-based Grid2Home, founded in 2009 to develop software for the emerging market in smart meter data communications, has changed its name to Kitu Systems, apparently to position the company for the broader market in the “Internet of Things.” The company explains on its website that “Kitu” means “thing” in Swahili.
Kitu Systems also has raised another $2.3 million from investors, according to a recent regulatory filing, which brings total funding for the company to at least $11 million over the past six years.
No explanation was immediately available for the change. An executive at Kitu’s San Diego headquarters said Monday that CEO Rick Kornfeld was out of town, and Kornfeld did not respond to an e-mail query from Xconomy.
The company is still focused on smart meter and smart grid applications intended to help home-owners monitor and manage their home energy efficiency, and to manage their photovoltaic solar systems, electric vehicle charging systems, and related industrial applications.
But according to the company’s new website, the Internet of Things market has changed significantly over the past six years. So Kitu Systems has expanded its target market accordingly, saying, “Kitu Systems provides robust and scalable software for the Internet of Things. Kitu’s software enables secure and reliable communications from the Thing to the Cloud over a variety of wired and wireless networks.”
The company says its customers include big companies, smart device manufacturers, semiconductor manufacturers, and automotive companies.
As we reported some time ago, the company was co-founded by CTO Don Sturek and CEO Mike Bourton. Sturek apparently left Kitu Systems, and has been working at Silver Springs Network since last summer, according to his LinkedIn profile. Bourton, a longtime telecom executive, continues to serve as Kitu’s vice president of business development.
Granite Ventures managing director Sam Kingsland remains on Kitu Systems board, and former Texas Instruments executive Doug Rasor still serves as chairman.