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Atom Power, world's first and only digital circuit breaker company, raises $17.75 million in Series B round of financing
Fremont, CA: The inventor of the world's first and only digital circuit breaker, Atom Power, raises $17.75 million in Series B round of financing. The funds collected will be used to build a future where power is interconnected, managed, and used in plans like data on the Internet. Some of the investors in the Series B round included Valor Equity Partners, Rockwell Automation, ABB Technology Ventures, and Atreides Management. Atom Power has raised $23 million in total funding, including a previous $3 million Series A in 2017.
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Recently, Atom Power's digital circuit breaker was released and is listed by UL, to introduce the power generation and distribution to the digital age for the first time. Unlike traditional circuit breakers, the device intelligently manages the flow of power with software and semiconductors, connects unlimited power sources into one point, and dynamically switches between them based on need.
The latest funding will power Atom Power to develop the next generation digital circuit breaker, scale its intelligent power management platform, and address the world's most pressing power distribution challenges, such as integrating renewables into the grid, building more efficient data centers, and supporting other sustainable energy initiatives.
Atom Power will be applying the technology via an advanced e-mobility to substantially shift how electric vehicle charging infrastructure is deployed through inherent demand management that saves energy and costs.
"Modern life is increasingly digital, yet the electrical infrastructure powering our buildings has remained decidedly analog. This poses huge challenges for supporting a smooth transition to electrification, renewable energy, and electric vehicles," said Ryan Kennedy, CEO, Atom Power. "We need technology that gives us digital control over when and how we use power. Last year, we made huge strides when we introduced the first solid-state circuit breaker to market, and we're thrilled to continue building a future where energy is faster, safer, and more reliable than ever."
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