Latest Technospin News
Nov 30, 2017
Announces an $8 Million Series A Financing Round Led by NY Venture Capital Fund 21Ventures The Financing will Support R&D as Well as Sales and Marketing Efforts April 28, 2008 04:00 PM Eastern Daylight Time NEW YORK--( BUSINESS WIRE )--TechnoSpin Inc., developer and manufacturer of next-generation small wind turbines for residential and commercial use, announced today a Series A financing round of $8 million. The round was led by 21Ventures, a New York based venture capital fund. The money will back R&D as well as sales and marketing efforts. “TechnoSpin has a stellar management team with great vision. They are focused, dedicated and highly creative. These attributes were central to our decision to invest in the company,” said David Anthony, Managing Partner of 21Ventures. TechnoSpin turbines achieve more effective utilization of wind energy. In addition, they are not limited only to use in areas with strong winds, but can also operate in low and medium-wind areas. Other existing wind systems are generally unable to function in low and medium-wind areas, which account for more than 80% of the Earth’s ground surface. “In addition to its new blade design, TechnoSpin features an innovative manufacturing process, which substantially decreases manufacturing costs and increases the flexibility of locating manufacturing facilities. Both factors lower total costs by 20-30% as compared to existing renewable power solutions,” said Maxim Rakov, CEO of TechnoSpin. TechnoSpin targets business and agricultural users in developing countries, as well as residential users in both developed and developing countries. TechnoSpin systems can provide an affordable solution for remote rural areas not connected to a central power grid, or be used in combination with the central grid. TechnoSpin’s small systems are portable and can be erected temporarily in areas where electricity has been cut off due to natural disasters and other disruptions in supply. The company is also developing a revolutionary versatile gear, allowing for increased efficiency and reduced weight and materials consumption. About TechnoSpin, Inc: TechnoSpin, Inc is a manufacturer of revolutionary small wind energy systems, with headquarters in NY, a manufacturing facility in Israel and activities in Eastern Europe and the Middle East. For additional information, please visit: www.tswind.com or call 212-751-8336. About 21Ventures: Founded in 2004 and headquartered in New York, 21Ventures is a venture capital fund which invests in seed and early stage technology companies in the physical security, clean energy and mobile software markets. The fund’s primary geographic focus is Israel, where over half of the company’s investment capital has been deployed to date. 21Ventures is currently managing more than $100 million worth of investments in 20 companies in both Israel and the United States. For more information, please visit www.21ventures.net . To schedule an interview, please contact Marjie Hadad, media liaison, firstname.lastname@example.org or please call 646-335-0269.
Technospin Frequently Asked Questions (FAQ)
When was Technospin founded?
Technospin was founded in 2004.
Where is Technospin's headquarters?
Technospin's headquarters is located at 55 Heath Place, Hastings-on-Hudson.
What is Technospin's latest funding round?
Technospin's latest funding round is Series A.
How much did Technospin raise?
Technospin raised a total of $8M.
Who are the investors of Technospin?
Investors of Technospin include 21Ventures.
Who are Technospin's competitors?
Competitors of Technospin include UpWind Solutions, Urban Green Energy, Windspire Energy, Viryd Technologies, Nordic Windpower and 7 more.
Compare Technospin to Competitors
LM Glasfiber is the a supplier of blades for wind turbines.
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Jasper Wind, Athens (Greece) is a renewable energy company that focuses on developing wind and solar projects in Greece as well as nearby countries. It has a pipeline of over 1 GW of wind projects and over 100 MW of solar projects. It also owns two wind farms in Greece that have been operating for approximately 8 years as well as various projects in construction.
Sky Windpower specializes in airborne wind energy, focusing on the development of flying electric generators within the renewable energy sector. The company's main innovation involves harnessing high-altitude winds to generate electricity using airborne devices that operate similarly to tethered airplanes. These flying electric generators are designed to capture wind energy at higher altitudes where wind speeds are typically more consistent and stronger. It is based in San Diego, California.