Intel Capital leads $40 mln Series B funding in Avogy
Summary
Avogy will use this capital to continue developing the semiconductor and systems technology that enables disruptive innovation in the form of smaller, lighter and more efficient power supplies while building out its go-to-market strategy. To achieve these technological advances, Avogy has assembled a team of very experienced semiconductor and power systems professionals from industry leading public companies. Founded in 2010, Avogy, Inc. is a leader in advancing energy efficiency and reliability of power conversion systems while dramatically reducing their cost, size and weight. Its in-house capabilities include a 3,500 square foot clean room with sub-micron lithography, multiple MOCVD reactors for growing GaN epitaxial layers, device fabrication and a full suite of electrical testing and metrology tools. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing.