Investissement Québec
Assembly Line
SmartD Technologies secures $14.2 Million Series A
SmartD Technologies, a leader in the development of Silicon Carbide (SiC)-based variable frequency drives, proudly announces the successful closure of its Series A funding round, securing a total of $14.2 million in investment. Leading the funding round is Investissement Québec, with significant participation from Hammond Power Solutions. This round is further bolstered by continued support from existing investors, Boreal Ventures and SE Ventures.
This infusion of capital marks a crucial milestone for SmartD Technologies as it embarks on an accelerated trajectory towards revolutionizing the variable frequency drive (VFD) landscape. The funding will be strategically utilized to expedite the realization of SmartD’s ambitious roadmap, particularly focusing on the development and commercialization of higher power versions of its groundbreaking Clean Power VFD.