Amantys Limited, an energy efficiency power electronics company, announced the successful closure of a $7 million Series A round. The new funding enables Amantys to continue with the commercialization of its digital power switching platform.
The new funding round has been led by Moonray Investors, part of Fidelity International and ARM Holdings plc (ARM). Moonray Investors has additionally purchased certain of the remaining external minority interests in Amantys.
Amantys, formed in 2010 by former ARM executives and an academic from Cambridge University, states that it is developing a family of digital power platforms which will bring very high efficiency, reliable power switching and intelligence to power applications across the energy generation, transmission and consumption sectors.
Nicky McCabe, COO at Moonray Investors said, "We have been impressed with the progress that Amantys has made in a short time and we have a shared vision of bringing disruptive power switching technology to wherever power is converted or transformed. The scale of the opportunity and the principle of early customer engagement are compelling and we are delighted to add Amantys to our growing portfolio."
Pete Magowan, Amantys’ Chairman commented, "We are delighted to welcome Moonray Investors and ARM as shareholders in Amantys. Fidelity not only brings financial resources but also commercial connections in the sector. ARM is recognized as a world leading technology company with a shared passion for power-efficient electronics. With our advanced digital platform we believe we can address power losses all the way from wind and solar photovoltaic modules, transmission grids and transformers through to electric motors and electric vehicles. Our motivation is simple – Why Waste Watts?™."
Bruce Beckloff, ARM VP Corporate Business Development, commented, "The high-calibre Amantys founding team is well-placed to deliver a disruptive solution to address the problem of efficiency losses. We believe power efficiency needs to be tackled across the power supply-chain and not just at the device level and ARM has been impressed with what the team has achieved. We look forward to seeing the impact of Amantys’ products on the market".
Bryn Parry, Amantys CEO said, "The new round of funding, financed by two blue chip companies, will enable us to commercialise our digital power platform by launching our first products into the marketplace, significantly expand our team and work with our customers. We have been very encouraged with the results that we have been able to achieve with our product prototypes switching both silicon and silicon carbide devices and we look forward to bringing our first products to market."
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