Swiss technology company ABB has joined previous investors Cedar Fund, Evergreen and DFJ in this financing round.
Pentalum Technologies, which develops technologies to make wind energy systems more efficient, has raised $7 million in a financing round, which included Swiss technology company ABB and previous investors Cedar Fund, Evergreen Venture Partners and DFJ. According to IVC, $17 million has been invested in the company.
Pentalum was founded in 2009 by CEO Sagie Tsadka and COO Nathan Sela. The company was launched as part of the Cedar Fund's pre-seed program which chose a team of entrepreneurs looking for an idea to turn into a company. The wind sensor concept actually came from the world of telecommunications equipment. The technology originally served optics communications and has been applied for measuring and control systems in wind farms that produce electricity using turbines.
The company has developed the SpiDAR system, an innovative, cost effective, and patent pending pulse wind LiDAR (Light Detection and Ranging) system, for remote sensing of wind.
Published by Globes, Israel business news - www.globes-online.com - on May 1, 2012
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