Powervation, an Ireland and US-based energy technology company which makes digital power controllers, has raised a $5.5m C1 funding round from existing investors including Scottish Equity Partners, Intel Capital, the corporate venturing unit of US-based semiconductor company Intel, VentureTech Alliance, Braemar Energy Ventures, and US-based semiconductor company Semtech Corporation.
In December 2012, Powervation raised $7m in a series C round.
The latest funding will be used to scale the company and accelerate expansion of its product portfolio.
Mike McAuliffe, CEO of Powervation, said: “We are delighted by the adoption of our Intelligent Digital Power products by market leading customers and the rapid growth of our business which is endorsed by this strong backing of our investor group.”