Internet-based sprinkler control system developer Cyber-Rain received $1.8 million in a second round of funding led by a venture fund specializing in early stage companies. The Encino-based company will use the money for development and sale of its next generation sprinkler control system. “Cyber-Rain is leading the way in providing smart technologies that not only save money and time for users, but also provide a tangible way to protect the environment,” said CEO Diana Schulz. DeWaay Investment Partners led the funding round, joined by Athenian Venture Partners, Momentum Venture Management and Funk Ventures. Momentum and Funk also participated in the funding round in 2009. “Cyber-Rain fits perfectly into our model of supporting established, growing, capital-efficient companies,” said DeWaay Managing Director Adam Claypool. “Cyber-Rain’s connectivity ideally positions it to address the growing water crisis with a sophisticated yet easy-to-use conservation tool.” Claypool joined the Cyber-Rain board of directors and Athenian will nominate a board observer. Cyber-Rain control systems have been installed in more than 1,200 residential and commercial sites. The system uses the Internet to check weather condition and automatically adjusts watering schedules.
