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February 24, 2011 12:00 am GMT
It isn't often that you hear about a startup that's remained in stealth through multiple multi-million funding rounds. But today, we're meeting a company called Transphorm that's done just that "and it's making its debut in style. The company has just closed a $20 million Series C funding round led by Google Ventures, with participation from existing investors Kleiner Perkins Caufield & Byers, Foundation Capital, and Lux Capital. This brings the company's total funding to $38 million since it was founded in 2007.So what exactly does Transphorm do? The startup is focused on improving energy efficiency, namely in making power conversion less wasteful. CEO Umesh Mishra says that right now, we lose around 10% of the total electricity in the United States to energy conversions " when energy is converted from one form to another. If we could conserve and use that energy, he says we'd be saving more energy than is conserved by alternative sources like wind and solar (see chart). This would lead to billions of dollars in energy savings (the company estimates $40 billion a year in the US alone) and it's obviously better for theenvironment, too.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/5SV9vpN6IWs/
Energy Efficiency Startup Transphorm Emerges From Stealth, Raises $20 Million From Google Ventures
It isn't often that you hear about a startup that's remained in stealth through multiple multi-million funding rounds. But today, we're meeting a company called Transphorm that's done just that "and it's making its debut in style. The company has just closed a $20 million Series C funding round led by Google Ventures, with participation from existing investors Kleiner Perkins Caufield & Byers, Foundation Capital, and Lux Capital. This brings the company's total funding to $38 million since it was founded in 2007.So what exactly does Transphorm do? The startup is focused on improving energy efficiency, namely in making power conversion less wasteful. CEO Umesh Mishra says that right now, we lose around 10% of the total electricity in the United States to energy conversions " when energy is converted from one form to another. If we could conserve and use that energy, he says we'd be saving more energy than is conserved by alternative sources like wind and solar (see chart). This would lead to billions of dollars in energy savings (the company estimates $40 billion a year in the US alone) and it's obviously better for theenvironment, too.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/5SV9vpN6IWs/
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