Corporate venturing units GE Energy Financial Services and Germany-based Robert Bosch Venture Capital have participated in the US-based data centre energy management company SynapSense‘s $16m series C round of funding.
SynapSense is one of the companies to have benefited from industrial conglomerate General Electric (GE)’s Ecomagination Challenge, a programme set up to provide funding to innovative cleantech firms.
Both GE Energy and Robert Bosch also contributed to a $5m round of financing in July 2010, following on from Robert Bosch’s previous participation in SynapSense’s series B round, which raised $7m in March 2009. The funding represented the first corporate venturing secured by SynapSense.
Prior to 2009, SynapSense had raised $10m in its first series B round, in September 2007, and $2m in a 2006 series A round. SynapSense’s total funding stands at about $40m since its founding.
The series C round was led by the US-based venture capital (VC) fund Crosslink Capital, while further investors included VC firms Aeris Capital, Emerald Technology Ventures, Nth Power and Sequoia Capital.
SynapSense currently provides data optimisation in a wide field of industries including finance, healthcare, technology and aerospace, and is planning to invest the capital in product development and global expansion.