Transphorm Emerges from Stealth with New Approach to Electric Power Conversion
Transphorm Inc., a company which says that it is redefining energy efficiency with the most efficient and compact power conversion technology, emerged from stealth mode at a private event at Google Ventures. The company announced it completed a $20 million Series C financing led by Google Ventures, with participation from existing venture investors Kleiner Perkins Caufield & Byers, Foundation Capital and Lux Capital. This brings the total capital raised from all rounds to $38 million.
Inefficient electric power conversion results in hundreds of terawatts of lost energy across the electrical grid, equivalent to 318 coal-fired power plants and costing the U.S. economy $40 billion a year. Leveraging breakthroughs in modern materials and a world-class team, Transphorm’s ultra-efficient and cost-competitive power modules eliminate up to 90% of all electric conversion losses. From HVACs to hybrids, from servers to solar panels, Transphorm enables significant energy savings across the grid.