Akros Silicon Secures Additional Financing - Total Investment Stands at $11M

November 12, 2012 by Jeff Shepard

Akros Silicon Inc. has secured additional financing to supplement capital previously raised in 2012, bringing the total to $11M. In addition to Technology Partners, which led the most recent round of financing, Akros obtained financial support from existing investors: USVP, Levensohn Venture Partners and SPM Capital. The infusion of capital will be used for further expansion of sales and marketing channels and proliferation of new products into new market segments. Additionally, Akros is pleased to announce that Marc van den Berg from Technology Partners has joined Akros' Board of Directors.

"Akros has demonstrated unique capabilities to leverage an extremely rich technology platform into a broad family of products that serve the power management, enterprise energy management and energy efficiency markets," said Marc van den Berg of Technology Partners. "At Technology Partners we believe firmly in the Akros team and the capabilities of Akros' technology to serve those markets in entirely new ways."

"We are grateful for the financing from Technology Partners and all our investors, and we are pleased to welcome Marc to Akros' Board of Directors," said Parviz Ghaffaripour, President and CEO of Akros Silicon. "Our GreenEdge™ and Energy$ense™ product families are leading-edge game changers that have helped Akros establish its leadership in network power market segments. With the new backing of Technology Partners, along with the support from our existing investors, Akros will be better positioned to expand our served markets and deliver our innovative next-generation ICs to our growing global customer base."