EnVerv Inc. announced today the closing of its $15.4 million round of series C financing with participation from Cassiopeia Capital Partners, Cisco, UMC Capital and existing investors, Benchmark Capital, NEA, and Walden International. EnVerv's SoC solutions enable robust and high-speed communications over Low Voltage (LV) and Medium Voltage (MV) power lines that are applicable to various grid connectivity markets such as AMI, solar micro-inverters, transformer monitoring, substation communications, lighting networks, etc. EnVerv's family of communications SoC solutions comprises single-chip soft-modems and covers ITU-T G.9903 (G3-PLC), ITU-T (G.9904) PRIME, IEEE 1901.2 and IEC-61334 (S-FSK) standards across CENELEC, FCC and ARIB frequency bands.
“We are very glad to have raised this sizable round of investment,†said Michael Raam, CEO and President of EnVerv. “This round further underscores our dedication to providing high-performance SoC solutions to our customers. We intend to utilize this capital to support the production ramps, expand our customer base and also continue the development of new product families in wired and wireless communications as well as metering market segments.â€
“Our investment in EnVerv not only signifies our belief in their business model and product offerings but also their execution in combining complex communication algorithms with high levels of integration in offering the lowest power and most cost effective single chip solutions to their customers,†said Frank Lee of UMC Capital.
