Ireland-based digital power technology developer Powervation has secured $7m of financing from backers including semiconductor maker Semtech and Intel Capital, semiconductor technology producer Intel’s corporate venturing unit.
The round consisted of $4m of equity from investors also including Scottish Equity Partners, Braemar Energy Ventures, VentureTech and 4th Level Ventures, and $3m in debt from Ares Capital Corporation.
Founded in 2006, Powervation produces digital power integrated circuits for use in electronics technology. The funding will support the scaling of Powervation’s business in response to demand from the cloud server, high performance computing, communications, and power supply markets.
Powervation previously received $5.5m in February this year from backers including Intel and Semtech, both having also contributed to a $7m series C round in 2012.
Intel had earlier contributed to a $10m series B round, raised in 2009, which increased the company’s funding at the time to more than $20m.