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May - 2005 - issue > VC Chakra

Jadoo jars $11 M

si Team
Saturday, April 30, 2005
si Team
Portable energy storage and power generation product developer, Jadoo Power, has garnered $11 million in its Series B funding. The funding was led by MDV-Mohr Davidow Ventures, Venrock Associates and strategic partner Sinclair Broadcast Group. With the funds raised, Jadoo expects to expand research and development, accelerating fuel cell product development.

“Jadoo is delivering value to its customers by offering extended runtimes and lower weight in easy to use packages with lower costs. Some of our customers compare our products to the existing battery systems and their choice is ‘Jadoo’,” said Muralidharan (Lee) Arikara, Co-founder and Vice President, Business Development.

“This new round of financing will help us grow our capabilities to service and reach the millions of customers who need to experience the Jadoo advantage.”

Last October the company had unveiled a 21,000 sq. ft. manufacturing facility in Folsom to expand research and development and manufacturing operations for its future growth. For the first time since its inception in 2001, the company received an exemption grant from the U.S. Department of Transportation (DOT) to transport Jadoo’s storage system, containing hydrogen absorbed in metal hydride via air cargo.

This exemption allows Jadoo to expand its product lines to address the power needs internationally as well as within the domestic market space.

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