MicroPower Technologies, Inc., creator of the world’s most power-efficient wireless video camera technology, today announced that the company has completed its “Series B” round of venture funding to further product development and expand market share. MicroPower raised approximately $2.2 million through a variety of private and institutional investment sources.
“MicroPower has made significant progress in the areas of product development and customer traction,” said Jon Siann, founder and chief executive officer, MicroPower Technologies. ”The additional capital will help fund our product launch in the first half of 2011 and further our channel marketing strategies. We are extremely pleased with the confidence the investment community has placed in MicroPower and we look forward to the opportunities that lie ahead.”
MicroPower released the Alpha version of its Mini-i™ wireless video surveillance camera in October of this year and plans to release production units of its initial product line in the first half of 2011. The company markets its products to customers in the public safety, government, SMB and commercial segments.
“We are ecstatic with the progress that MicroPower has made since joining EvoNexus, our non-profit high-tech business incubator, in late 2009,” said Rory Moore, chief executive officer, CommNexus San Diego. “Emerging companies have the opportunity to accelerate their business plan under the auspices of the EvoNexus program, and MicroPower’s success is a true testament to the caliber of our incubator companies and the continuous support they receive through the EvoNexus organization.”
