Microinverter specialist, SolarBridge Technologies has received US$19 million in series C funding, supported by previous round investors as well as new financial and strategic investors not identified by the company in a statement. SolarBridge said it had raised more than US$46 million to date.
“We were able to add investors, as well as have current investors participate in our C round of financing,” commented Ron Van Dell, president and CEO, SolarBridge. “This exemplifies the confidence in our very capital-efficient business model and the tremendous momentum around our technological approach to ACPV. The SolarBridge AC Module System will dramatically reduce the LCOE for solar installations by improving system reliability, increasing energy production and greatly simplifying the installation process.”
SolarBridge noted that Rho Ventures had led the B series financing round, while Battery Ventures, had led series A funding. The Texas Emerging Technology Fund had also participated as an investor and contributed US$1.5 million to the B round.
SolarBridge recently announced plans to increase the production capacity to over 70MW to meet demand.