What is SmartD?
SmartD Technologies is a Canadian power electronics firm that has distinguished itself by developing the first SiC-based Variable Frequency Drive (VFD) capable of feeding motors with a true sine wave. This innovation enables filterless power drive systems that adhere to IEEE519 harmonic recommendations. The company's solutions are engineered for simplicity, reduced size, and enhanced intelligence, making them suitable for the most demanding industrial applications. The recent strategic investment signals a strong market validation for SmartD's technology in the power electronics sector.
How much funding has SmartD raised?
SmartD has raised a total of $25M across 2 funding rounds:
Series A
$14.2M
Other Financing Round
$10.8M
Series A (2024): $14.2M with participation from SE Ventures, Investissement Quebec, and Boreal Ventures
Other Financing Round (2026): $10.8M led by Investissement Quebec, Hammond Power Solutions, Desjardins, Schneider Electric Ventures, and Boreal Ventures
Key Investors in SmartD
SE Ventures
SE Ventures is a venture capital fund focused on Climate Tech and Industrial Tech, acting as a growth engine for pioneering founders. The firm leverages the global customer base and domain expertise of Schneider Electric to drive scale through long-term commercial collaborations with startups.
Investissement Quebec
Investissement Quebec is a company that intends to assist in the growth of investment in Quebec and contributing to economic development and job creation. The corporation offers businesses a full range of financial solutions such as loans, loan guarantees, and equity investments.
Boreal Ventures
Boreal Ventures Canada specializes in providing high-quality outdoor gear, including camping tools, cooking equipment, and fire lighting accessories. The company offers products from renowned brands and ships exclusively within Canada, with free shipping on orders over $99 CAD.
What's next for SmartD?
With this substantial backing, SmartD is poised for accelerated growth and market expansion. The enterprise-level capital infusion is expected to fuel further research and development, enhance manufacturing capabilities, and broaden the company's global reach. This strategic financing round, characterized as a major investment, suggests a focus on scaling operations and solidifying SmartD's position as a leader in advanced motor control technology. The company's trajectory indicates a move towards wider adoption of its innovative SiC-based VFDs in various industrial segments.
See full SmartD company page
