Inc, Avogy , a company that is revolutionizing technology that powers consumer and business electronics, today announced that it has raised $40 million in Series B funding. New investor Intel Capital led the round with the participation of existing investor Khosla Ventures.
Intel Capital’s investment highlights Avogy’s position as a rising power in the category of power systems, bringing smarter and more efficient power systems to businesses and consumers. Avogy will use this capital to continue developing semiconductor and system technology that enables disruptive innovation in the form of smaller, lighter and more efficient power supplies while developing its go-to-market strategy.
‘Avogy has demonstrated new technology that dramatically reduces the cost, size and weight of power systems that will benefit consumers,’ said Arvind Sodhani, President of Intel Capital and Executive Vice President of Intel Corp. ‘The company’s products are strategically suited to a wide range of Intel platforms, including Ultrabooks, All-in-One and Workstations. ”
Managing Director Ramamurthy Sivakumar and Director Stephen Saltzman led the investment in Intel Capital
‘Power systems need to evolve to meet the needs of an increasingly mobile workforce using multiple devices. We are radically changing the way these devices will be powered,” said Dinesh Ramanathan, President and CEO of Avogy. ‘Intel has opened up opportunities for Avogy products on the consumer market. We expect to add new strategic partners in order to proliferate Avogy products in other market segments. ”
Avogy has more than 20 patents and 40 patent applications in vertical GAN semiconductor technology, power topology and controllers for disruptive innovation in power systems. The company is in a class of its own with deep expertise and a record of producing high-performance semiconductors and power systems. To achieve these technological advances, Avogy has put together a team of highly experienced semiconductor and power systems professionals from industry-leading public companies.
On September 9-11, 2014, Avogy will attend the Intel Developer Forum conference at the Moscone Center in San Francisco. For more information on Avogy and investment, please visit booth 362.
AMOUT AVOGY, INC
Avogy, Inc. was founded in 2010. It is a leader in the advancement of energy efficiency and reliability of power conversion systems while dramatically reducing their costs, size and weight. Its in-house capabilities include a 3,500 square foot clean room with submicron lithography, multiple MOCVD reactors for growing GaN epitaxial layers, device manufacturing, and a full suite of electrical testing and metrology tools. All processing is in-house, giving Avogy the ability to complete experimental batches in the shortest time possible and run production volume without relying on subcontractors. With 20 patents and 40 patent applications, Avogy continues to innovate and disrupt the electricity supply industry. The company is financed by the venture and is headquartered in San Jose, California. For more information, please visit