Tuesday, April 13, 2010

EnStorage raises $15M Series B financing led by Warburg Pincus

Israeli fuel cell start-up EnStorage Ltd. has raised $15 million in a Series B financing round.

U.S. private equity fund Warburg Pincus led the round, and was joined by all of EnStorage's current investors, including Greylock Partners, Canaan Partners, Siemens TTB, and Wellington Partners, according to a report in "Globes".

EnStorage was founded in 2007 by VP R&D Dr. Arnon Blum, Chief Scientific Officer Prof. Emanuel Peled of Tel Aviv University, Chairman Nachman Shelef, and former CEO Eran Yarkoni.

EnStorage is developing and commercializing energy storage systems, based on technology developed for over by Prof. Emanuel Peled and his team at Tel Aviv University. The technology is licensed from Ramot, the technology transfer company of Tel Aviv University.

According to the EnStorage web site, James Levy, a Principal at Warburg Pincus, has joined the EnStorage Board of Directors.

EnStorage raised a $2 million Series A financing in January 2008.

Eran Yarkoni was the featured speaker at the first CleanIsrael Meetup in March 2008. Congratulations to the EnStorage team for the Series B financing!

Related Posts:

EnStorage raises $2m from Greylock, Canaan and Siemens Venture Capital

Highlights from first CleanIsrael meetup event