Powervation Closes USD7M Funding Round – Adds Strategic Investor
Series C Funding Round Fuels Business Growth for Intelligent Digital Power™ IC Platform in Cloud and Communications Infrastructure - Semtech Corporation Joins as Strategic Investor Powervation Ltd (www.powervation.com), the pioneer in digital power IC solutions that deliver intelligent adaptive performance, increased system efficiency, and breakthrough design simplicity, announced it has recently raised a USD7M Series C funding round to fuel business growth and accelerate market adoption of its Intelligent Digital Power™ platform at cloud and communications infrastructure OEMs. New investor Semtech Corporation (Nasdaq: SMTC), a leading supplier of mixed signal semiconductors, has made a strategic investment in the company, joining the round participation of the existing investor group - Intel Capital, SEP, VentureTech Alliance and Braemar Energy Ventures. The funding will enable Powervation to accelerate business growth, expand sales channels and strengthen applications engineering including establishing a new facility in Taiwan to support its Asian business growth.
Enterprise Ireland joined the funding round with an R&D investment which will enable Powervation to further strengthen its design team in Cork to accelerate new product development.
As originally published in Bodo's Power Systems: