EnVerv Gets $12M For Smart Grid Chips

EnVerv, a developer of semiconductors used for the smart grid metering industry which has offices in San Diego, said this morning that it has raised $12M in a round of funding. The funding was led by Benchmark Capital, and also included prior investors New Enterprise Associates and Walden International. EnVerv's chips are used for communications via low voltage and medium voltage power lines. EnVerve's executive team includes a significant number of former RF Magic and Entropic Communications executives; both RF Magic and Entropic were based in San Diego. The firm's headquarters are in San Jose. More information »