Valere Power Completes First-Round Venture FundingMay 20, 2002 by Jeff Shepard
Valere Power Inc. (Richardson, TX), a maker of power systems for the wireless and broadband sections of the telecommunications industry, has raised $13.0 million in a first-round venture funding. The money will be used to expand the sales and marketing team, boost the company's product portfolio, and ramp up manufacturing and product development.
Backers of the startup include Sierra Ventures (Menlo Park, CA), Alcatel Ventures, and Dali Hook Partners (Dallas, TX). Valere Power may receive an additional $2.0 million from Saft Power as well.