|
||
|
Venture capital firms and funds in Europe 128 Venture Capital Group 3i Venture Capital Accuitive Medical Acer Venture Capital Act Venture Capital Ltd Adelaide Venture Capital Email ADS Ventures Boston Advantages Of Venture Capital Advent Venture Capital Agio Capital Alabama Venture Capital Alaska Venture Capital All Stages Venture Capital American Venture Capital Analysis Venture Capital Analyze Venture Capital Angel Capital Appraisal Venture Capital Arch Venture Capital Argentina Venture Capital Arizona Venture Capital Arkansas Venture Capital Arrowpath Venture Capital Assess Venture Capital Assessment Venture Capital Atlas Venture Capital ATV Venture Capital Aurora Fund Australia Venture Capital Austria Venture Capital Automotive Venture Capital AZ Venture Capital VCgate More Venture Capital Terms and Topics
-
Deeya Energy Secures $15 Million in Round B Venture Capital Investment
February 11th, 2008 No comments
New Enterprise Associates (NEA), a leading U.S.-based venture capital firm, recently announced an investment in Deeya Energy Inc., a clean energy technology company focused on developing and manufacturing novel energy storage systems. The company announced it will use the $15 million from the Series B round, led by NEA and including funds from existing investors BlueRun Ventures, Draper Fisher Jurvetson (DFJ) and DFJ Element, to support the construction of its factory in Gurgaon, India and its continued R&D activities. As a result of the investment, Ravi Viswanathan, NEA Partner, will join the board of Deeya Energy.
“Deeya’s application of its proprietary L-Cell technology to create high-performance, low-cost energy storage solutions is among the most promising developments to date within the clean tech industry,” said Mr. Viswanathan. “Power availability and quality will be increasingly important global issues, particularly critical in developing regions, and Deeya has an opportunity to address a broad range of market opportunities within that space.”
Deeya L-Cells offer superior charging and discharging performance compared to other batteries and are significantly cheaper. The life time of a Deeya L-Cell is 7 years, after which it can be refurbished and recycled with minimal cost. L-Cells are estimated to be cost-competitive with lead-acid batteries, and about 10-20 times cheaper than NiMH, Li-lon and Fuel Cell options. Additionally, L-Cells contain environmentally benign materials and are infinitely recyclable, as opposed to the kinds of materials used in other batteries, such as lead-acid. The initial focus of the company is the Indian telecom infrastructure market.
“We are pleased to have NEA’s support as we advance our efforts to deliver a breakthrough energy storage solution,” said Saroj Sahu, Deeya’s Founder and Chief Technology Officer. “The firm’s energy industry and business expertise, and expanding global presence, will be a tremendous asset as we develop and manufacture innovative products to address needs across several key industries, including peak-off-peak load shifting, renewable energy and uninterruptible power supplies.”
“Deeya’s current focus is to be the supplier of choice to telecom operators in India with our innovative flow battery solution for cell phone tower energy back-up applications,” said Vic Mahadevan, CEO of Deeya Energy. “This will allow the telecom operators to expand their market rapidly by deep penetration into India’s villages with a cost effective and high performance energy storage platform.”
Deeya Energy Inc. is a Freemont, California-based developer of energy storage devices for the load-shifting, uninterruptible power supply and renewable energy markets. Deeya’s investors include BlueRun Ventures, Draper Fisher Jurvetson, DFJ Element and New Enterprise Associates.
For more information, please visit www.deeyaenergy.com
Leave a reply
Latest Headlines:
Friday August 31, 2012
Zscaler Secures $38 Million Investment Round
Wednesday November 30, 2011
Health Care Solutions companies Infinity Pharmaceutics, NanoVobronix and Selventa raise funds.
Monday November 21, 2011
Panda Power opens $420 Million Fund for Solar and Natural Gas Projects
Thursday November 17, 2011
Better Place raises $200 Million for Electric Cars in the Series C of Funding
Wednesday November 16, 2011
Accel Partners raise $100 Million Big Data Fund to Invest in Hadoop, NoSQL and other Companies
Tuesday November 15, 2011
Skimlinks raises $4.5 Million to help Bloggers Increase their Gains
Monday November 14, 2011
Standing Cloud raises $3 Million to help New Cloud Providers grow Faster
Thursday November 10, 2011
Zillow acquires Diverse Solutions for $7.8 to help Real Estate Agents increase their Visibility