Powervation Closes $ 5.5M Funding Round
Funding Round Fuels further Growth for Intelligent Digital Power™ IC Platform in Cloud and Communications Infrastructure
Cork, Ireland, and San Jose, CA, February 10, 2014: Powervation Ltd. (www.powervation.com), the leader in Intelligent Digital Power™ IC solutions, today announced it has recently raised a $5.5M C1 funding round which will enable it to further accelerate growth, product development, and market adoption of its Digital Power platform at leading cloud and communications infrastructure OEMs.
All existing major investors participated in the round including: SEP, Intel Capital, VentureTech Alliance, Braemar Energy Ventures, and Semtech Corporation. The funding will enable Powervation to scale the company in response to market demand for its products and accelerate expansion of its product portfolio based on its innovative digital control architecture.
Powervation's digital power controllers have achieved wide adoption by market leaders in cloud/datacenter server infrastructure, high performance computing, power module solutions, as well as communications infrastructure. This adoption is driven by the significant performance, flexibility, and time to market benefits of Powervation's advanced digital power management, unique programmable architecture, and self-tuning Auto-Control® digital control loop, which is the industry's leading proven adaptive compensation scheme.
"We are delighted by the adoption of our Intelligent Digital Power™ products by market leading customers and the rapid growth of our business which is endorsed by this strong backing of our investor group" said Mike McAuliffe, CEO of Powervation. He continued, "This investment will be used to further fuel our growth as digital power continues its rapid market ascendency and also accelerate our product pipeline of advanced digital power solutions".
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