Intel led the round for the power conversion system developer, which is looking to attract more strategic partners.
Avogy, a US-based developer of energy efficient power conversion systems, secured $40m yesterday in a series B round led by Intel Capital, the corporate venturing arm of semiconductor producer Intel.
The round also featured venture capital firm Khosla Ventures, already an investor in Avogy. Intel Capitals’s managing director Ramamurthy Sivakumar and director Stephen Saltzman led the investment for the unit.
Avogy specialises in power conversion systems that are more energy efficient, and which have a lower cost, size and weight…
