Transphorm, An Energy Efficiency Groundbreaker Backed By Google, Raises $35M From Japan Powerhouses

Transphorm, a company that has developed a power conversion technology to drive energy efficiency, emerging from stealth early last year, has today announced a Series E raise of $35 million led by a particularly strategic pair of investors. The round is led by the Innovation Network Corporation of Japan (INCJ) -- a government/manufacturing partnership with a procurement budget of up to $25 billion annually -- and Nihon Inter Electronics Company (NIEC), which will help Transphorm manufacture its power devices. Existing venture investors Kleiner Perkins Caufield & Byers, Foundation Capital, Google Ventures, Quantum Strategic Partners, Lux Capital and Bright Capital also participating. Today's funding announcement in particular points to big manufacturing companies' interest in Transphorm's technology and a strategic turn towards Japan. The INJC is?a public-private partnership between the Japanese government and 27 major corporations, including Sharp, Sumitomo Electric, Toshiba and?General Electric Company, Japan. INCJ has the capacity to invest up to ?2 trillion (approximately US$25 billion).

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