Amantys Secures $8 Million in New Financing from Moonray
Amantys Limited announced the successful closure of a new funding round of $8m. This significant new financing enables Amantys to expand into new markets and build on its successful power drive product family, launched in November 2011. This additional round of funding has again been led by Moonray Investors, part of Fidelity International.
Amantys has gone from strength to strength over the past two years, with the launch last year of an extensive family of Amantys Power Drive™ IGBT Module gate driver products (3.3kV, 1.7kV & 1.2kV). Earlier this year the company extended the capability of these products with the introduction of Amantys Power Insight™, a disruptive new hardware and software platform that redefines the landscape of power electronics, applying digital communications and control techniques to make the operating conditions at the heart of power switches visible. This visibility brings opportunities to optimise performance and to improve maintenance regimes in systems such as wind turbine power converters or traction systems for electrically powered locomotives.
Nicky McCabe, COO at Moonray Investors said: "We have continued to be really impressed with the success that Amantys has achieved over the last year, bringing new and disruptive products to market. They are gaining the attention of leading global power electronics companies in an industry set on improving efficiency and reliability," adding that "Amantys has set ambitious targets for the future, and we see great potential for the company and its products. This investment round will enable the company to grow the commercial organisation and extend its global presence, so we are proud to extend our backing to enable Amantys to deliver on that exciting market opportunity."
ARM vice president of segment marketing Vincent Korstanje is joining the Board of Amantys to represent ARM's continued support for its investment in Amantys. He commented: "Amantys' unique power switching technology delivers significant energy savings in medium and high voltage markets. This year Amantys added the Power Insight product that provides real-time monitoring and control of the power switch in order to further improve energy efficiency and reliability. This is a great example of the 'Internet of Things' in which ARM-based processors are used to make a product more efficient by adding sensors, machine to machine communication, and remote diagnostics and control."
Bryn Parry, Amantys CEO added: "Our investors continue to demonstrate their support and commitment to us with this new round of funding from Moonray. We've made enormous progress in just a few short years, and this investment will allow us to develop the business further, and to deploy our products across a wider range of applications. With more exciting new products on the horizon, industry-wide recognition, and equipment demand growing, we expect to continue this success over the next few years."
Advisors on the deal were: Beachcroft LLP and Taylor Wessing LLP.