ColdWatt Secures $15.5 Million in Series A Funding

March 09, 2005 by Jeff Shepard

ColdWatt Inc. (Austin, TX), formerly GTI Power Systems and a developer of power supplies for computing, networking, storage and telecom applications, announced that it has closed a $15.5 million Series A funding round co-led by Austin Ventures and Matrix Partners. Existing investor GTI Ventures (New York) also contributed to the round. The funds will be used to further research and product development and expand sales and marketing activities.

ColdWatt has assembled a team of veteran talent from the power supply industry to commercialize power conversion technologies developed at Rockwell Scientific Company LLC (Thousand Oaks, CA). The company was seeded by investment firm GTI Ventures, founded by former Sony USA CEO Michael Schulhof. ColdWatt's first products are ac-dc and dc-dc power converters for computing, networking, storage and telecom applications. ColdWatt's first-generation ac-dc server power supplies and eighth-brick dc-dc telecom power supplies dissipate over 50% less heat than current state-of-the-art.

ColdWatt Vice President of Sales and Marketing Jeffrey Kelley commented, "We are pleased to have industry-best design talent, and a strong investor syndicate to bring a series of disruptive technologies to market."