Powervation Scores $10M

Palo Alto-based Powervation, which develops integrated circuits used for power conversion, announced Wednesday that it has raised $10M in additional funding. The funding came from SEP, Intel Capital, Venture Tech Alliance and Fourth Level Ventures. The company said the funding brings its total raised to $20M. Powervation's power conversion ICs provide both monitoring and better control for electronic circuits. Powervation said the new funding will go towards sales, marketing, operations, and R&D. More information »