Transphorm, a US-based developer of power conversion technology, has raised $20m in a series C round led by Google Ventures, the corporate venturing unit of search engine group Google.
Venture capital firms Kleiner Perkins Caufield & Byers, Foundation Capital and Lux Capital were also part of the C round.
Transphorm is trying to reduce the more than 10% of all electricity lost due to power to electricity conversion inefficiencies and previously raised $18m.
Wesley Chan, a partner at Google Ventures is listed as a director on Transphorm’s latest regulatory filing. He said by email: "There has been no announcement of customers yet. Stay tuned for an announcement at the conference [during] week of March 7."
However, as Transphorm came out of stealth mode with the C round, its press release mentioned two other companies with undisclosed interest in its technology.
Toshihiro Sawa, managing director of the technology and development division of Yaskawa Electric, said: "The time is right to develop power conversion technologies that can cut power waste and reduce excess heat, and Transphorm provides a viable solution today."
Leo Casey, chief technology officer of Satcon, added: "It is imperative that power conversion efficiency be increased both to cut unnecessary losses and to save energy, but also to reduce waste heat which has negative impact on volume, weight, cost and reliability."