OnChip Power, the power electronics startup spun out of MIT, has raised $2.4 million from undisclosed angel investors, according to MassHighTech. OnChip is working on reducing the size of power supplies for electronics, with an initial focus on LED lights.

A 2010 runner-up in the MIT $100K Prize, the company also won the Northeast finals of the Cleantech Open that year. In December, it closed $2.8 million in Series A funding. As Don Seiffert reports at MassHighTech:

When the round was first announced in February 2011, CEO Vanessa Green said that investors included Venrock and PAETEC Holding Corp. CEO Arunas Chesonis.

OnChip’s technology came out of the MIT’s Laboratory for Electromagnetic and Electronic Systems.