Virtual Power Systems Obtains $4,218,025 Series A Financing

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3e653bae-1f25-4dc8-9666-9999ffb3f956
Date
4/1/2016
Company Name
Virtual Power Systems
Mailing Address
4699 Old Ironsides Drive Santa Clara, CA 95054 USA
Company Description
Virtual Power Systems, Inc. (VPS) is creating a software-defined power infrastructure for data centers. Today’s Data Centers ensure continuous power availability through expensive redundancy and overprovisioning, resulting in avoidable operating losses and expensive maintenance for every size and type of organisation.
Website
http://www.virtualpowersystems.com
Transaction Type
Venture Equity
Transaction Amount
$4,218,025
Transaction Round
Series A
Proceeds Purposes
This filing covers the conversion of promissory notes into Series A Preferred Stock; conversion of Series A-2 Preferred Stock into Series A Preferred Stock; issuance of Series A Preferred Stock and Common Stock issuable upon conversion thereof. Proceeds purposes were not disclosed. 14 investors participated in the offering. The amount may include options, warrants or other securities. Contact technology company for investment details, if applicable. Not an offer or solicitation for the sale of securities or debt. SEC regulatory filing.
M&A Terms
Venture Investor
Undisclosed