Dr. David Almagor, founder and former CEO of the start-up Mysticom Semiconductor (a company that managed to raise $50 million before being sold to Transwitch), is teaming up with Adi Shamir, a former executive in AeroScout, to form a new start-up – Panoramic Power.
This new venture, which already employs about 6 people in Kidron, will focus on developing a hardware and software platform that will enable large organization to utilize wireless sensors to install smart grid technology on top of existing infrastructure. In this way, Panoramic Power will enable management to follow and monitor the energy consumption of individual energy-hogging machines, predict future energy consumption levels and assist large-scale organization with their energy management.
Panoramic Power’s platform is meant to act as a foundation for additional SmartGrid applications, that will be developed as the need arises, and will be dedicated to conserve energy, divide workloads, calculate energy costs, maintain longterm energy loads and more.
Recently, the company received a preliminary seed investment from media company Qualcomm (Nasdaq: QCOM), and from Alexander Schneider. It is also in talks with additional organizations to complete a first round of fund raising totaling one million dollars.
Translated by Itai Rosenbaum
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