Ubees Raises $8 Million to Scale Pollination Services & Technology
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Ubees Raises $8M in Funding
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NEW YORK, March 8, 2021 /PRNewswire/ Hilco Streambank, the world s foremost advisor in the valuation, monetization, and disposition of intellectual property, announced today that it successfully facilitated the private sale of substantially all of the assets of Varentec to Sentient Energy, a subsidiary of Koch Engineered Solutions (KES). The acquisition included all of Varentec s intellectual property, inventory, and customer contracts. Hilco Streambank was also pleased to be a part of negotiations to retain a majority of Varentec s employees. The terms of the sale have not been disclosed.
Varentec, headquartered in Santa Clara, California, developed patented hardware and software solutions to address voltage irregularities at the edge of the grid. A pioneer in the field, Varentec disrupted a slow-to-adopt industry by engineering an elegant and proven solution that has become a foundational component for efficiency savings at some of the la