Transphorm Raises $38 Million in Financing
News - Staff reports
Author: CompoundSemi News Staff
February 28, 2011... Transphorm Inc., a company that produces power modules to reduce energy conversion losses, announced it completed $20 million Series C financing led by Google Ventures. Other participation came from existing venture investors Kleiner Perkins Caufield & Byers, Foundation Capital, and Lux Capital. The total capital raised from all rounds has reached $38 million.
Transphorm points out that inefficient electric power conversion results in hundreds of terawatts of lost energy across the electrical grid. According to Transform, this lost energy is equivalent to 318 coal-fired power plants and costs the U.S. economy $40 billion a year. Transphorm claims that its power modules eliminate up to 90 percent of all electric conversion losses.
Transphorm says its custom-designed power modules are easy to embed in virtually any electrical system. The company plans to unveil its first product at the upcoming APEC conference, taking place in Fort Worth, Texas from Mar. 6 -10, 2011.
Randy Komisar, partner at Kleiner Perkins Caufield & Byers commented, “It was imperative for our firm to get behind Transphorm because it is the first company with a viable, commercial-scale solution to energy losses associated with high-voltage power conversion.”
Umesh Mishra, CEO of Transphorm commented, “Why put up with needless energy waste in every electrical system and device, when we can quickly and cost-effectively design products that are inherently energy efficient? Transphorm’s next-generation power modules cut waste, increase efficiency, reduce system size and simplify overall product design.”
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