Semitech Semiconductor, a provider of power line communications solutions that transform the electricity grid into a smart grid, announced it has completed its Series A financing, raising AU$3.4 million with an option for an additional AU$6 million. Melbourne, Australia-based Cleantech Ventures led the round, with participation by all existing Semitech investors including SIMAC Capital and Get2Volume.
“Power line communications is a key enabling technology to smart grid communications, and a core green initiative worldwide,” said Jan Dekker, Managing Director of Cleantech Ventures. “By enabling robust communications in noisy power line environments, Semitech’s technology and products solve the problems that have prevented power line communications from growing more rapidly. We are pleased to lead this strategic round of funding that enables Semitech to continue to grow and lead the industry in power line communications solutions.”