Power IC Firm, Powervation Secures $ 7million Funding
Irish start up Powervation has raised $7million in a Series C funding round aimed at commercialising its Intelligent Digital Power platform.
The funding, which will also be used to establish a new facility in Taiwan, was awarded by new investor Semtech and existing investors Intel Capital, SEP, VentureTech Alliance and Braemar Energy Ventures.
The company's Digital Power platform incorporates its patented Auto-Control technology, which it claims is the industry's only real time adaptive compensation scheme to deliver optimum performance under all load conditions and over the full product lifecycle.
"We are delighted by the strong backing of our investor group and to have Semtech on board as a strategic investor," said Powervation's ceo Mike McAuliffe. "These investments endorse our progress with key customers and our business potential as we deliver the unique benefits of our Intelligent Digital Power platform to the wider market."
Read the article as originally published here: http://www.newelectronics.co.uk/electronics-news/power-ic-firm-secures-7million-funding/46627/