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TMCNet:  Powervation Closes $5.5M Funding Round

[February 10, 2014]

Powervation Closes $5.5M Funding Round

CORK, Ireland & SAN JOSE, Calif. --(Business Wire)--

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 (News - Alert), 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 eaders 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".

About Powervation

Powervation (www.powervation.com), the Intelligent Digital Power™ Company, delivers breakthrough intelligent digital IC solutions for designers of Cloud Computing, Communications, and high-performance power systems. The company's digital controllers deliver advanced digital power management and digital loop control which deliver significant benefits in performance, flexibility, efficiency and breakthrough design simplicity. This performance edge is enabled by Powervation's unique programmable architecture and self-tuning Auto-Control® loop technology. Powervation is a private fabless semiconductor company backed by leading VC and strategic investors including SEP, Intel Capital, VentureTech Alliance, Braemar Energy Ventures, and Semtech Corporation and is headquartered in Cork, Ireland, with facilities in San Jose, California and Taipei, Taiwan.


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