American investment bank
will be leading a massive $50 million private placement for startup
The Hod Hasharon-based startup has completed its prospectus for the financing round. Most of the capital has apparently been secured from shareholders, including
and Etgar funds,
PowerDsine's most recent financing round was carried out at a company valuation of $70 million. The company had hoped to issue on Nasdaq in 2000, but its plans were foiled by the tech crash. Last year its sales came to $12 million.
PowerDsine develops software-based power solutions. Its technology enables the integration of data, voice and power on standard Ethernet infrastructure. It was founded by CEO Igal Rotem and President Ilan Atias and employs 200 workers.