Raju Pandey Co-Founded SynapSense Raises $5 Million
Date: Wednesday , September 01, 2010
California based SynapSense, a developer of wireless energy efficiency solutions that cuts power costs of data centers, has raised $5 million in a latest round of financing. GE Energy Financial Services, financial arm of General Electric, has joined the existing investors, Emerald Technology Ventures, Sequoia Capital, Robert Bosch Venture Capital, American River Ventures, Nth Power and DFJ Frontier, in the combined $5 million investment. This brings the total investment in SynapSense to $25 million. The funding will be used to develop and market its wireless data center monitoring and management tools.
Founded in 2006, the smart grid developer offers wireless and software that supports a sensor platform, which in turn allows data center operators to view operations’ energy use-patterns and reduce consumption by up to 20 percent. SynapSense mainly focuses on the environment and its solutions promise decreased carbon emissions and higher power efficiency.
As part of a commercial agreement with GE, SynapSense will distribute its products via the GE Intelligent Platforms, a technology supplier for data center operators. The partnership will focus on digital energy services, the Smart Grid and other ecological efforts. Currently the company has some big names like Yahoo, Facebook and NBC as their key customers.
SynapSense’s technology was initially developed by the Co-Founder, Raju Pandey, while working at the University of California. In his role as the Chief Technology officer, Pandey, plays a key role in expanding the company’s offerings.