iWatt Closes $14.5 Million Series B FinancingMarch 09, 2003 by Jeff Shepard
iWatt Inc. (Los Gatos, CA), a power management IC company developing and marketing digital controllers for power supplies, announced that it closed a $14.5 million Series B financing, led by new investor VantagePoint Venture Partners. Existing investors Horizon Ventures, PTI Alliance of Taiwan, and Sigma Partners, as well as several private investors, also participated in the round. The funding will be used to enhance the company's product road map and to facilitate the introduction of its power management products to computer and consumer electronics manufacturers worldwide.
"We believe the market is ripe for iWatt's first, all-digital approach to power management," said Melissa Crane, partner and new board member of VantagePoint Venture Partners. "The technology enables a new generation of power management devices."