Empower raises $30m financing to further accelerate product and customer momentum worldwide
Empower Semiconductor has announced the close of a $30 million equity financing round led by an international group of strategic and institutional investors.
The financing will allow Empower to accelerate the development of its next-generation integrated voltage regulator (Empower IVR) semiconductor technology and continue to build out its international sales and engineering team.
The investment, which doubles the company’s previous valuation strengthens Empower’s mission to minimize the energy footprint of the digital economy. It will also enable the Company to quickly bring to market state-of-the-art, high-speed power architectures delivering industry-leading power density and transient response as required by next-generation high-performance data centres and AI chips. It also expands Empower’s ability to engage with and support Tier 1 customers worldwide.
“This round reflected the investment community’s excitement over Empower’s revolutionary technology,” stated Tim Phillips, Empower’s Chief Executive Officer. “Investors are seeing the remarkable impact our technology is having on customers globally, in particular in data centres and AI. Our technology enables a leap in processor performance that traditional power solutions simply won’t allow.