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[March 25, 2014]
EnVerv Announces Closing of $15.4M Series C Investment Round [Energy Monitor Worldwide]
(Energy Monitor Worldwide Via Acquire Media NewsEdge) an innovative fabless semiconductor company and a leading provider of high performance communications and metering System on Chip (SoC) solutions for the Advanced Metering Infrastructure (AMI), smart grid, solar and other grid connectivity markets, announced today the closing of its $15.4M round of series C financing with participation from Cassiopeia Capital Partners, Cisco, UMC Capital and existing investors Benchmark Capital, NEA and Walden International.
"We are very glad to have raised this sizable round of investment," said Michael Raam, CEO and President of EnVerv. "This round further underscores our dedication to providing high-performance SoC solutions to our customers. We intend to utilize this capital to support the production ramps, expand our customer base, and also continue the development of new product families in wired and wireless communications as well as metering market segments." "Our investment in EnVerv signifies our belief in not only their business model and product offerings but also their execution in combining complex communication algorithms with high levels of integration in offering the lowest power and most cost-effective single chip solutions to their customers," said Frank Lee of UMC Capital.
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