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Achates Power Closes Round at $19.2M

San Diego cleantech startup Achates Power said late today it has completed a $19.2 million Series B round of venture funding that brought a new investor into its fold: Triangle Peak Partners, which has offices in Carmel, CA, Houston, and Palo Alto, CA. The funding appears to complete a round we noted in October. With funding from Triangle Peak and existing investors Sequoia Capital Partners, Rockport Capital Partners, Madrone Capital Partners, and InterWest Partners, Achates is developing a radical new design for a high-efficiency two-stroke automotive engine.