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M2E Power Nets $8 Million Series A Funding

Monday, November 19, 2007 5:15:00 AM PDT | VentureDeal Staff

BOISE, ID -- Energy company M2E Power, Inc. announced that it has raised $8 million in its series A venture capital round.

M2E is developing technology that converts physical activity to energy.  The company is applying the Faraday Principle - that putting a conductor near a magnetic field will produce voltage.  Their products include a wearable device that generates electricity when the user walks.

Investors were led by OVP Venture Partners, and included @Ventures and Highway 12 Ventures.

The company said that the funding proceeds will be used to expand research and development and build initial products.

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