US based Alpha Technologies has acquired NavSemi Energy, a Bangalore based solar energy harvest maximization technology company, Bellinghamherald states. The financial details of the acquisition remain unknown.
The two have been closely working together for the past several years. NavSemi's customer base in India expands Alpha's reach into fastest growing and most progressive PV markets and complements Alpha's renewable energy brand, OutBack Power, another company in The Alpha Group.
NavSemi was founded in 2008 by Babu Jain to develop power electronic solutions for the more efficient transfer of energy from solar power sources, and to provide solutions for expanding solar capabilities.
NavSemi’s current product range focuses on standalone market with solar charge controllers for home & street lighting, solar BTS systems, standalone battery based residential and commercial systems and Micro Grid solutions.
NavSemi is funded by Venture Capital firm, Accel-X Pte Ltd, Singapore.
Alpha Technologies is engaged in the design, manufacture, service and support of precision rubber and polymer laboratory instrumentation and data acquisition / analysis software systems. Alpha’s power systems provide power protection and emergency backup power to networks that carry voice, video, data, security systems.
It serves cable television/broadband, industrial, communications, data network, and renewable energy industries worldwide. The company was founded in 1976 and is based in Bellingham, Washington with service center locations in North America, Central America, Latin America, Europe, and Asia. Alpha Technologies Inc. operates as a subsidiary of The Alpha Group.
The Alpha Group is an alliance of independent companies that manufacture power products. The group has more than 2,000 employees worldwide.
Recently in this space; IFC was proposing to finance Azure Power’s rooftop solar project in Gujarat; Energy generation company, Fortum had bought a 5-MW PV solar power plant in Rajasthan; P2 Solar had acquired two projects in India, each in Rajasthan and Punjab.
InCights Mobile Solutions, a provider of voice biometrics software and delivery systems has raised R1 Cr angel funding led by a group of investors including Anand Lunia of India Quotient, Iamwire states.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.