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Varentec, an emerging green technology company, closed a $7.7M Series A funding round in late 2011 led by Khosla Ventures, a clean tech venture capital firm. Varentec also announced that Dr. Deepak Divan will lead the company as President and CTO.

Vinod Khosla, founding partner of Khosla Ventures, indicated that "the grid of the future will require dynamic control achieved with smart, networked power electronics devices. Under Dr. Divan’s leadership and vision, we believe that Varentec’s solutions will have a transformative impact on the electricity industry."

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