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Powervation raises $5.5M in funding
Powervation has recently raised a USD 5.5 million C1 funding round which will enable it to further accelerate growth, product development, and market adoption.
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.
“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”.
