SmartD Technologies Raises $15M CAD Financing Round

SmartD Technologies has closed a financing round totaling $15 million CAD. The round was co-led by existing strategic investor Hammond Power Solutions and new institutional shareholder Desjardins Capital.

All existing shareholders participated, including Hammond Power Solutions, Investissement Québec, Boreal, and SE Ventures. SmartD said the capital will accelerate its roadmap and scale deployment of its SiC-based variable frequency drive technology, including Clean Power VFD, amid growing demand from industrial operators.

SmartD’s Clean Power VFD is described as a Silicon Carbide (SiC) architecture that delivers clean sine-wave power without external harmonic and output filters, aiming to reduce energy losses and extend motor and electrical infrastructure lifespan.