From the Wires
Powervation Closes $7M Funding Round – Adds Strategic Investor
Dec. 4, 2012 11:05 AM
Powervation Ltd (www.powervation.com),
the pioneer in digital power IC solutions that deliver intelligent
adaptive performance, increased system efficiency, and breakthrough
design simplicity, today announced it has recently raised a $7M Series C
funding round to fuel business growth and accelerate market adoption of
its Intelligent Digital Power™ platform at cloud and
communications infrastructure OEMs.
Mike McAuliffe, CEO of Powervation. (Photo: Business Wire)
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.
Powervation’s digital power controllers have established a strong
beachhead in the communications and server/computing infrastructure
market through their advanced digital control, telemetry and power
management capabilities. Its Intelligent Digital Power™
platform incorporates its patented Auto-Control® technology,
which is the industry’s only real-time adaptive compensation scheme,
delivering optimum performance under all load conditions and over the
full product lifecycle. This brings key benefits in terms of system
performance and efficiency coupled with breakthrough programmability,
flexibility and time-to-market as supported by Powervation’s intuitive
GUI-based design tool PowerSMART™.
“We are delighted by the strong backing of our investor group and to
have Semtech Corporation on-board as a strategic investor, as they are a
market leader in silicon solutions for the high performance
communications and computing markets. 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” said Mike McAuliffe, CEO of Powervation.
“We have strong momentum in the communication and module spaces and are
excited by the early adoption of our new PV3201 Intel© VR12.x
DDR controller series by leading Server/Computing OEMs. This funding
round will help fuel that market momentum and enable us to accelerate
our commercial build-out as a company”.
“Powervation’s singular focus on realizing the opportunity of digital
power management is one that we are glad to further invest in. Their
digital controllers also support the Intel© VR12.x
specification which requires a highly flexible architecture aimed at
delivering system performance and efficiency gains” said Damien
Callaghan, Investment Director, Intel Capital.
About Powervation
Powervation (www.powervation.com)
delivers breakthrough Intelligent Digital Power™ IC solutions
for designers of Communications, Computing, and power Point-of-Load
systems. The company’s digital DC/DC controllers with patented
Auto-Control® technology provides intelligent adaptive
compensation, delivering significant benefits in performance,
efficiency, reliability and breakthrough design simplicity. Powervation
is a private company backed by leading global VCs - SEP, Intel Capital,
VentureTech Alliance, Braemar Energy Ventures and is headquartered in
Cork, Ireland, with sales/applications offices in San Jose, California
and Taipei, Taiwan.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20121204006256/en/
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