April 17, 2012. Although a number of state utilities in India are planning to invest in smart grids in their distribution areas, the global funding scene for such grids remains dull. The top venture capital (VC) deal in Q1 2012 was $30 million raised by Silver Spring Networks, a smart meter networking company, followed by $13.7 million raised by Tendril, an energy management company. Other top deals included $7.7 million raised by Varentec, a start-up focused on "power routers" that can control power flows on the grid, $4.1 million raised by Vizimax, a designer and manufacturer of automation systems for grid modernization, and $4 million raised by Smart Wire Grid, a provider of smart wire technology to control power flows on transmission lines. Eight VC investors participated in Q1, all participating in one deal each including Archangel Informal Investments, BDC Venture Capital, Braemar Energy Ventures, Hitachi, Khosla Ventures, Pasadena Angels, Tech Coast Angels and Yaletown Venture Partners.