(PEHub) Promotora Venture Capital Fund has invested in PrimeStone, a Colombia-based company that develops and supplies sophisticated smart grid applications and solutions for data collection, validation, management, control and data exchange. The company will use the investment for international expansion.

Promotora Venture Capital Fund invests in PrimeStone targeting international expansion. PrimeStone is the sixth Investment made by Promotora Venture Capital Fund. The resources invested in PrimeStone for international expansion will allow the company to take the next step towards its consolidation as a key player in the market.

PrimeStone S.A.S. is a Colombia based company founded in 1990 in Bogotá, Colombia.

PrimeStone develops and supplies sophisticated smart grid applications and solutions for data collection, validation, management, control and data exchange between meters and other devices for the power industry. Its key product is PrimeRead Energy Suite, a powerful Meter Data Collection (MDC) engine that reads over 150 meter models used by companies in power generation and distribution, improving network efficiency.

PrimeStone will use the resources invested by Promotora for international expansion.

“Promotora Venture Capital Fund will allow us to expand our operations internationally and incorporate their experience through best practices to strengthen the growth strategy we have set. The investment received will benefit our current and future customers with better service and support,” said PrimeStone CEO Javier Zarama.

“The resources invested in PrimeStone for international expansion will allow the company to take the next step towards its consolidation as a key player in the market,” emphasized Francisco A. Mira. President of Promotora.