Company’s valuation has doubled over the past 18 months
San Jose, California, March 7, 2023 — Empower Semiconductor, the world leader in Integrated Voltage Regulators (IVRs), today 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 Center 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 Centers and AI. Our technology enables a leap in processor performance that traditional power solutions simply won’t allow.”
About Empower Semiconductor
Data being communicated and processed around the globe is anticipated to drive the energy consumption of data centers and communications networks to 17% of total electricity demand worldwide by 2030(1), dramatically increasing pollution, carbon emissions and cost. Empower Semiconductor was founded with the mission to “minimize the energy footprint of the digital economy” by developing novel fully integrated power management solutions that both increase the performance and reduce power consumption of energy-hungry, data-intensive applications.
Traditional power solutions require many discrete components with big footprints, complex designs and deliver power inefficiently with poor response times and inaccuracies. Empower Semiconductor’s patented IVR technology integrates dozens of components into a single IC increasing efficiency, shrinking footprints by 10x and delivering power with unprecedented simplicity, speed & accuracy and with zero discrete components. The Empower IVR™ technology solves the power density challenge to address a wide range of applications including mobile, wearables, 5G, AI, and data centers.
- Nature, “How to stop data centres from gobbling up the world’s electricity”, September 12, 2018
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