VoltServer, an East Greenwich, RI-based developer of electrical energy distribution technology, raised $5m in Series A2 round of funding.
The round, which brought total funding to $10.5m, was led by Marker Hill Capital with participation from NRCM and Clean Energy Venture Group.
The company intends to use the funds to support its ongoing mobility deployments and trials throughout the world, while expanding its remote powering solutions into adjacent markets including converged fiber optic communications (FTTx, POL), smart LED lighting, centralized battery-backed/critical power/UPS, data center and alternative energy applications.
Led by Steve Eaves, Founder and CEO, VoltServer provides patented solutions that deliver electricity where, when, and how it is needed in natively digital format. The technology combines energy and data into energy packets and transfers hundreds of packets each second from a VoltServer transmitter unit to a receiver unit. The transmitter verifies the transfer of each packet. If there is improper wiring, a short circuit, or a person is touching the transmission lines, the transmitter will not send any more energy packets.
The company began shipping in early 2015, today powering 4G/LTE mobile services in many large sports stadiums, office towers, hotel, condominium and medical buildings.