Power Analog Microelectronics Announces Completion Of Series B Financing
Power Analog Microelectronics (PAM) announced that it has completed its Series B funding with $6 million in investments, which brings a total of $12M in investments to date. Hotung Investment Holdings and H&Q Asia Pacific jointly led the round with CVM Capital, VentureTech Alliance, and the management team’s participation. As part of this investment, Sean Peng of H&Q Asia Pacific, and James Chou of Hotung Investment have joined PAM’s board of directors.
"This round of financing provides PAM with the necessary working capital to ramp up production of high-performance power management integrated circuits and Class-D audio amplifiers as well as to accelerate our new product development of high-power LED Drivers and high-brightness solid state lighting product families," said Johnston C. Chen, President and CEO of PAM. "Our investors have subscribed to our vision and product direction to becoming a key player in the high-power and high-efficiency product area, targeting energy saving and environmentally friendly applications. We truly appreciate their confidence in our technology, management team, and in our assessment of this market opportunity."
Sean Peng, Managing Director of H&Q Asia Pacific said, "We are very pleased with the progress PAM has made in its high-performance power management IC products, transitioning from product phase into production phase swiftly to capture significant market shares in mobile device markets. With its recent product launches of high-brightness LED and solid state lighting applications, we have confidence in the company to quickly and successfully expand into these new markets as well."
"Hotung Investment is delighted to be involved with PAM during its rapid growth phase and we are particularly excited about the company’s prospects in becoming a leader in the high-power LED and lighting markets," stated James Chou, Vice President at Hotung Investment.
Power Analog Microelectronics, Inc., established in 2004, focuses on high voltage analog and power integrated circuits for use in flat panel displays, consumer audio, solid state lighting, and automotive applications.