When was Varentec founded?

Varentec was founded in 2009 and raised its 1st funding round 1 year after it was founded.

Where is Varentec located?

Varentec is headquartered in Santa Clara, United States. It is registered at Santa Clara, California.

Who is the current CEO of Varentec?

Guillaume Dufossé of Varentec.

How many employees does Varentec have?

As of Dec 31, 2019, Varentec has 24 employees, reflecting a 14% year-over-year decline in headcount.

Is Varentec a funded company?

Varentec is a funded company, having raised a total of $43.1M across 13 funding rounds to date. The company's 1st funding round was a $***** Grant (prize money) round, raised on 2010.

When was the latest funding round of Varentec?

Varentec's latest funding was a $***** Series C round on Nov 08, 2019, with participation from 1 investor. Its primary sector is Smart Grid. In United States, the Smart Grid sector has seen $963M in funding in 2026 to date.

Where does Varentec rank among its competitors?

Varentec ranks 22nd amongst 271 active competitors, of which 38 are funded. It stands 6th in terms of total funding among its competitors. The most recent competitor to raise funding was Ingeteam, which secured $87.3M in Jun, 2026.

Who are the top competitors of Varentec?

Varentec's top competitors include Tantalus, GridCARE and ElectronX. Among them, Ingeteam secured the most recent funding round in June, 2026.

Varentec - 2026 Company Profile, Team, Funding & Competitors

Company Details

Varentec develops innovative, compact and high-performance power electronics and total systems for the electric grid and industrial applications. Its grid edge control solutions use ENGO hardware(ENGO V) and software (ENGO Manager) to deliver dynamic, decentralized real-time control of voltage and VARs all along a distribution line, enabling a wide range of benefits and capabilities.

Website: varentec.com
Email ID: *****@varentec.com
Part Of
Registered Address: Santa Clara, California

Key Metrics

Founded Year

2009

Location

Santa Clara, United States

Stage

Series C

Total Funding

$43.1M in 13 rounds

Latest Funding Round

Series C, Nov 08, 2019, $*****

Investors

Khosla Ventures & 7 more

Ranked

22^nd among 271 active competitors

Employee Count

24 as on Dec 31, 2019

Similar Companies

Comsys & 12 more

View Varentec's full profile

Varentec is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Varentec, Inc. CIN: 273021127 , United States, Active	Dec 31, 2008	-	24 (As on Dec 31, 2019)	-

Varentec has raised a total funding of $43.1M over 13 rounds. Its first funding round was on 2010. Its latest funding round was a Series C round on Nov 08, 2019 for $*****. 1 investor participated in its latest round. Varentec has 7 institutional investors and 1 angel investor.

Here is the list of recent funding rounds of Varentec:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Nov 08, 2019	2506611	Series C	3214687	1181850	8877344	7008382
Aug 10, 2016	5523163	Series C	3293542	5645179	6806604	Khosla Ventures & 2 more
Nov 23, 2015	7278772	Series C	6767830	4783563	3M	Khosla Ventures

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View details of Varentec's funding rounds and investors

The founders of Varentec are Mehrdad Hamadani and Deepak Divan.

Here are the details of Varentec's key team members:

Mehrdad Hamadani: Co-Founder, Executive Vice President Engineering and Operations of Varentec.
Deepak Divan: Founder, President & CTO of Varentec.
Guillaume Dufossé: CEO of Varentec.

View details of Varentec's Founder profiles and Board Members

Varentec's employee count trend

Varentec has 24 employees as of Dec 19. The total employee count is 14.0% lower than what it was in Dec 18. Here is Varentec's employee count trend over the years:

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Top competitors of Varentec include Tantalus, GridCARE and ElectronX. Here is the list of Top 10 competitors of Varentec, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Tantalus 1989, Raleigh (United States), Public	Communication technology provider for smart grids	$58.7M	Sanders Morris Harris Group, ARC Financial ... & 10 others	64/100
2nd	GridCARE 2024, Redwood City (United States), Series A	Provider of AI data center power solutions leveraging existing grid infrastructure	$77.5M	Temasek, Xora Innovation & 20 others	63/100
3rd	ElectronX 2022, Chicago (United States), Series A	Provider of grid management solution	$61.5M	Systemiq Capital, Innovation Endeavors & 11 others	61/100
4th	envelio 2017, Cologne (Germany), Acquired	Provider of AI-driven grid management software solutions	$7.82M	eCAPITAL, Demeter & 5 others	61/100
5th	Reactive Technologies 2010, London (United Kingdom), Series D	Developer of cloud-based demand-side management solutions	$94.6M	Equinor, BGF & 34 others	61/100
6th	GridPoint 2003, Reston (United States), Acquired	Provider of data-driven energy management solutions	$584M	Goldman Sachs, New Enterprise Associates ... & 25 others	60/100
7th	IQGeo 2002, Cambridge (United Kingdom), Acquired	Provider of enterprise software solutions for digital transformation	-	-	58/100
8th	Peak Power 2015, New York City (United States), Series A	Microgrid developer and platform to integrate the customers and utilities	$35M	Export Development Canada, Sensata & 12 others	56/100
9th	Ingeteam 1972, Zamudio (Spain), Funding Raised	Provider of power electronics, electric generators, motors, and automation systems	-	European Investment Bank, Europa & 1 others	56/100
10th	Safegrid 2019, Espoo (Finland), Acquired	Provides grid management solutions	$6.73M	Ajanta, G&W Electric & 5 others	55/100
22nd	Varentec 2009, Santa Clara (United States), Series C	Grid Control management technology provider	$43.1M	Square 1 Bank, Khosla Ventures & 6 others	45/100