Intel Capital is a long-term backer of Ireland-based digital power company Powervation.
US-based wireless equipment company Semtech Corporation has helped Ireland-based digital power company Powervation raise $7m.
The company was joined in the series C round by Intel Capital, the corporate venturing unit of US-based semiconductor company Intel as well as venture firms SEP, VentureTech Alliance and Braemar Energy Ventures.
Powervation said the round would allow it to expand sales channels and strengthen applications engineering including establishing a facility in Taiwan.
Enterprise Ireland joined the funding round with a research and development investment, allowing Powervation to strengthen its design team in Cork.
In 2009, Powervation secured an undisclosed investment from Braemar. In 2007, Powervation was backed in an A round jointly led by Intel Capital and SEP, with backing from Venture Tech Alliance, 4th Level Ventures and government investor Enterprise Ireland, according to news provider Powerpulse. Powervation was a spin-out from the Circuits & Systems Research Centre at University of Limerick and…
