January 5, 2012 -- SuVolta, Inc., the developer of PowerShrink low-power IC technology that cuts chip power consumption by 50 to 90%, has secured $17.6 million in venture funding. The company will use the funding to continue to develop low-power silicon technologies for the most advanced semiconductor processes. New investor Bright Capital participated in the round, joining all existing SuVolta investors including Kleiner Perkins Caufield & Byers (KPCB), August Capital, New Enterprise Associates (NEA), Northgate Capital, DAG Ventures and others.
"SuVolta's revolutionary PowerShrink transistor is a stunning and disruptive innovation, a true game-changer," said John Doerr, partner at Kleiner Perkins Caufield & Byers. "It solves the semiconductor industry's greatest challenge — power — without requiring billions of dollars investment in new fab facilities and chip designs. So partners and investors are racing to exploit this enormous opportunity."
"While the past five years have produced impressive innovations with the web and mobile devices, it's just as important that we continue advancing the underlying technologies that make these innovations possible," said Forest Baskett, general partner at NEA. "Unfortunately, the funding for core semiconductor technology has significantly declined over the same period. Funding a venture like SuVolta is important because we need companies striving to truly disrupt the status quo in the semiconductor industry."
"Power is now the biggest design constraint for electronic products. This funding demonstrates the excitement surrounding our technology which dramatically reduces power consumption in ICs," said Bruce McWilliams, President and CEO of SuVolta. "Lowering power consumption has far reaching benefits for a range of applications and products including mobile devices. SuVolta is advancing the possibilities from continued scaling of planar, bulk CMOS technology."
Go to the SuVolta, Inc. website to find additional information.