Atom Power’s $17.75 Million Series B

Jones Day represented ABB.

Atom Power raised $17.75 million in a Series B round of funding to move the circuit breaker into the digital age.

Participating in the round were Valor Equity Partners, Rockwell Automation Inc., ABB Technology Ventures and Atreides Management. The new funding gives a boost to the Charlotte, North Carolina-based company, which has raised $23 million in total funds since its inception in 2014. That includes a previous $3 million Series A round in 2017.

Circuit breakers are used to protect equipment from causing fires. Atom Power CEO Ryan Kennedy spent 20 years installing them in buildings and said circuit breaker technology hasn’t changed much in more than 100 years, even though the ways we use electricity have become more challenging.

Kennedy did not disclose revenue, but did say he anticipates the company will grow 20 percent year over year.

The Jones Day team was led by Michael Earley (picture).

Involved fees earner: Michael Earley – Jones Day;

Law Firms: Jones Day;

Clients: ABB;

Author: Ambrogio Visconti