Achates Power Inc., a maker of fuel efficient internal combustion engines for commercial vehicles and other uses, has received $35.2 million in Series C financing.
The participants in this round consist of existing investors – Sequoia Capital Partners, RockPort Capital Partners, Madrone Capital Partners, InterWest Partners and Triangle Peak Partners. This funding round follows a $19 million Series B round in 2009, bringing total venture funding to $90 million since the company was founded in 2004.
The company said in a statement that it will use the funds to further product development and commercialization.
— SDBJ Staff Report