EnVerv Raises $12M For Smart Grid Chips

San Jose-based EnVerv, a developer of semiconductors used for the smart grid metering industry, said today that it has raised $12M in a round of funding. The round came from Benchmark Capital, along with prior investors New Enterprise Associates and Walden International. EnVerv's chips are used for communications via low voltage and medium voltage power lines. EnVerve is headed by Shahin Hedayat. More information »