ColdWatt, Formerly GTI Power Systems, Secures $15.5 Million in Series A Funding; Investors Include Austin Ventures, Matrix Partners, and GTI Ventures.AUSTIN, Texas -- ColdWatt Inc., a provider of high efficiency power supplies, today announced that it has closed a $15.5 million Series A funding round co-led by Austin Ventures and Matrix Partners. Existing investor GTI GTI Gas Technology Institute GTI Global Taxonomy Initiative GTI Good Time Interval GTI Guelph Turfgrass Institute GTI Green Theme International GTI Gordon Training International GTI Georgia Transportation Institute GTI Group Travel Insurance Ventures also contributed to the round. The funds will be used to further research and product development and expand sales and marketing activities. ColdWatt has assembled a team of veteran talent from the power supply industry to commercialize power conversion technologies developed at Rockwell Scientific Company ("RSC RSC Royal Society of Chemistry (UK) RSC Royal Shakespeare Company RSC Responsabilidad Social Corporativa (Spanish: corporate social responsibility) RSC Royal Society of Canada "), an aerospace R&D lab based in Thousand Oaks, California Thousand Oaks, commonly referred to as "T.O." by residents, is a city in southeastern Ventura County, California, in the United States. It was named after the many oak trees that grace the area, and the city seal is adorned with an oak. . The Company was seeded by GTI Ventures, a New York-based investment firm founded by Michael Schulhof, the former CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Sony USA. Jeffrey Kelley, vice president of sales and marketing at ColdWatt, commented, "We are pleased to have industry-best design talent, and a strong investor syndicate to bring a series of disruptive technologies to market." ColdWatt offers products with unmatched power efficiency, size and reliability, delivering customers more usable power with less heat dissipation. ColdWatt's first products are AC/DC AC/DC adj. Slang Having a bisexual orientation. [From the likening of a bisexual person to an appliance that works on either alternating or direct current. and DC/DC power converters for computing, networking, storage, and telecom applications. ColdWatt's first generation AC/DC server power supplies and eighth brick DC/DC telecom power supplies dissipate over 50% less heat than current state-of-the-art. This not only allows customers to pack more performance into the same package, it also makes end products more environmentally friendly. Krishna Srinivasan, a principal with Austin Ventures, said, "Efficient power conversion is a significant problem for all electronics equipment. ColdWatt is uniquely suited to help customers break through design limitations posed by thermal and space constraints." Rob Soni, a general partner at Matrix Partners, stated, "We look for cutting-edge technology companies in large addressable markets. We believe that ColdWatt will have a fundamental impact on an industry that is starving for innovation." About ColdWatt Inc. ColdWatt, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. headquartered in Austin, Texas, develops and markets power supplies for computing, networking, storage, and telecom applications. Visit www.ColdWatt.com for more information. About Austin Ventures Austin Ventures has been working with talented entrepreneurs to build valuable companies since 1979. With $2.4 billion under management, AV is the most active venture capital firm in Texas, and one of the most established in the nation. With a focus on enterprise software, computer and communications hardware, and business services, Austin Ventures invests at all stages of company development, from $100,000 "planned experiments" to $50+ million investments in management buyouts. About GTI Ventures GTI Ventures seeds new businesses in partnership with aerospace and defense, technology, and media companies. Drawing on executive experience and contacts, GTI Ventures advises its partners as to possible spin-out opportunities, and then provides early momentum by attracting top talent, business development, capital, and infrastructure to successfully launch the project. About Matrix Partners Since its inception in 1977, Matrix Partners (www.matrixpartners.com) has been dedicated to helping outstanding entrepreneurs build industry-leading technology companies. Matrix focuses on companies that develop the cornerstone technologies of the information revolution and invests in a broad range of sectors including software, communications equipment, semiconductors, storage, Internet, security, and wireless. With offices in the two major technology centers -- Boston and Silicon Valley -- Matrix has developed an exceptionally strong network of contacts and a deep reservoir of entrepreneurial know-how. Matrix helped found companies such as Xilinx (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :XLNX), VERITAS Software (NASDAQ:VRTS VRTS Veritas Software (stock symbol) VRTS Verification Requirements Tracking System ), Applied Micro Circuits (NASDAQ:AMCC AMCC Applied Micro Circuits Corporation AMCC Air Mobility Control Center AMCC Ashore Mobile Contingency Communications AMCC Advanced Materials Commercialization Center AMCC allied movement coordination center (US DoD) ), Sandisk (NASDAQ:SNDK), Openwave (NASDAQ:OPWV OPWV Openwave Systems Inc. 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About Rockwell Scientific Company Rockwell Scientific Company LLC, based in Thousand Oaks, CA, is an independent, privately owned high-technology enterprise with unique technical strengths in imaging sensors, electronics, optics, materials, and information science. Its range of activities includes performing research services for the U.S. government and private sector companies, as well as the manufacturing and sale of high-value products and licensing the technologies related to its R&D efforts. |
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