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October 1, 2012 11:35 am GMT
Transphorm, a company that has developed a power conversion technology to drive energy efficiency, emerging from stealth early last year, has today announced a Series E raise of $35 million led by a particularly strategic pair of investors. The round is led by the Innovation Network Corporation of Japan (INCJ) -- a government/manufacturing partnership with a procurement budget of up to $25 billion annually -- and Nihon Inter Electronics Company (NIEC), which will help Transphorm manufacture its power devices. Existing venture investors Kleiner Perkins Caufield & Byers, Foundation Capital, Google Ventures, Quantum Strategic Partners, Lux Capital and Bright Capital also participating.Today's funding announcement in particular points to big manufacturing companies' interest in Transphorm's technology and a strategic turn towards Japan. The INJC isa public-private partnership between the Japanese government and 27 major corporations, including Sharp, Sumitomo Electric, Toshiba andGeneral Electric Company, Japan. INCJ has the capacity to invest up to 2 trillion (approximately US$25 billion).
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/GdDwWotQl1w/
Transphorm, An Energy Efficiency Groundbreaker Backed By Google, Raises $35M From Japan Powerhouses
Transphorm, a company that has developed a power conversion technology to drive energy efficiency, emerging from stealth early last year, has today announced a Series E raise of $35 million led by a particularly strategic pair of investors. The round is led by the Innovation Network Corporation of Japan (INCJ) -- a government/manufacturing partnership with a procurement budget of up to $25 billion annually -- and Nihon Inter Electronics Company (NIEC), which will help Transphorm manufacture its power devices. Existing venture investors Kleiner Perkins Caufield & Byers, Foundation Capital, Google Ventures, Quantum Strategic Partners, Lux Capital and Bright Capital also participating.Today's funding announcement in particular points to big manufacturing companies' interest in Transphorm's technology and a strategic turn towards Japan. The INJC isa public-private partnership between the Japanese government and 27 major corporations, including Sharp, Sumitomo Electric, Toshiba andGeneral Electric Company, Japan. INCJ has the capacity to invest up to 2 trillion (approximately US$25 billion).Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/GdDwWotQl1w/
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