Jadoo Jars $11 M
Date: Monday , May 02, 2005
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. Jadoo expects to expand research and development, accelerating Jadoo’s 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 unveiled a 21,000 sq. ft. manufacturing facility in Folsom, CA to expand research and development and manufacturing operations for its future growth. For the first time since 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.
Jadoo has experienced rapid growth since its launch and is currently selling commercial power products to surveillance and law enforcement agencies as well as television stations and professional video providers.
Jadoo’s power products provide reliable power and extended runtime at a reduced weight.