Monday, January 7, 2008

Deeya Energy Raises $15M, Appoints Mahadevan CEO

Fremont-based Deeya Energy, a company developing energy storage systems, said today that it has raised $15M in a Series B funding round. The funding came from New Enterprise Associates, and also included BlueRun ventures, Draper Fisher Jurvetson, and DFJ Element. The company also announced that it has appointed Vic Mahadevan as president and CEO of the firm. Mahadevan was most recently CEO of NeoEdge networks, and was also CEO of Maxxan Systems and Ivita. Deeya Energy is developing battery-based systems targeted at load-shifting energy storage. The firm raised $2.5M in a round in September of 2006. More information »