17th December 2007
Powervation, a Digital Energy Control Company, announces $10M in series A funding
Powervation Ltd. (www.powervation.ie), a digital energy control, fabless semiconductor company, today announced the closing of a US$10 million round of venture capital funding.
The series A round was jointly led by Intel Capital (OR, USA ) and SEP ( UK ), with Venture Tech Alliance (CA, USA ) and a follow on investment from Fourth Level Ventures (IRL). Enterprise Ireland continues to support the company and retains its original investment.
Powervation will use the funding to take to market the digital energy control semiconductor and software solutions in the product development pipeline and to expand its sales and marketing presence in the U.S. and Asia .
Powervation’s digital energy controllers are used for delivering power to microprocessors in high performance information processing applications in computing, networking, telecommunications, storage and industrial markets. The advanced digital control technology displaces incumbent analog based solutions by providing higher levels of energy efficiency, performance, reliability, ease of use and lower total cost of ownership for customers.
According to market analysts, the market for Digital Power Controllers will exceed 300 million units by 2011, with a growth rate of 112 percent.
The core technology was originally developed at the Circuits and Systems Research Centre at the University of Limerick, Ireland, where applied research in the area has been ongoing since 2001.