What is SmartD?
SmartD Technologies is a Canadian power electronics firm renowned for its development of high-efficiency variable frequency drives (VFDs) specifically engineered for motor control. The company has pioneered the first SiC-based VFD capable of delivering a true sine wave to motors. This technological advancement enables filterless power drive systems that consistently adhere to IEEE519 harmonic recommendations, offering a simpler, more compact, and intelligent solution for demanding industrial applications. SmartD's commitment to innovation in power electronics underscores its strategic importance in advancing motor control efficiency and compliance.
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 Boreal Ventures Canada, Investissement Quebec, and SE Ventures
Other Financing Round (2026): $10.8M led by Hammond Power Solutions, Schneider Electric Ventures, Desjardins, Boreal Ventures, and Investissement Quebec
Key Investors in SmartD
Investissement Quebec
Investissement Quebec is a provincial financial institution dedicated to fostering investment and economic development in Quebec, offering a range of financial solutions to support business growth.
Schneider Electric Ventures
SE Ventures is a venture capital arm focused on Climate Tech and Industrial Tech, leveraging Schneider Electric's global network to scale innovative startups in energy management and automation.
Boreal Ventures
Boreal Ventures is an early-stage investment firm that supports startups with product-market fit, focusing on operational support for sustainable scaling across technology sectors including industrial innovation.
What's next for SmartD?
With the recent infusion of $10.8M in a major strategic investment, SmartD is poised for accelerated expansion. This enterprise-level backing, contributing to a total funding of $25M, signals strong investor confidence in the company's technology and market potential. The capital is expected to fuel further research and development, enhance manufacturing capabilities, and broaden market reach for its advanced SiC-based VFDs. SmartD's trajectory suggests a move towards solidifying its position as a leader in the industrial power electronics landscape, driving efficiency and sustainability in motor control applications.
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