Power control company iWatt gets $12.4M
IWatt, a Los Gatos, Calif. company that makes power control products, has taken a fifth round of funding for $12.4 million, led by an unnamed strategic investor.
The products that iWatt makes include AC-DC and DC-AC power supplies, coupled inductors and other power devices, and it sells into markets including semiconductors, telecommunications, and consumer electronics. IWatt’s advertises its devices as being able to reduce power consumption and waste.
The company also recently hired former SigmaTel CEO Ron Edgerton to be its new president and CEO.
Previous investors VantagePoint Venture Partners, Sigma Partners and Horizon Ventures joined in on the round, along with private investors. Along with its previous $7 million funding, iWatt has taken over $40 million to date.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.