SolarBridge Technologies has obtained $15 million in series B funding with Rho Ventures, a new investor for the company who lead the round of financing. To date, SolarBridge has raised over $27 million.
“SolarBridge has a proven management team with extensive experience in developing and commercializing power electronics, one of our firm’s core investment sectors,” commented Joshua Ruch, Ro Ventures managing partner and co-founder. “SolarBridge’s solution is unrivaled by anything else we have seen. We are very confident in the company’s ability to ramp to volume production and quickly grow revenue with this fundamentally disruptive solar technology.”
Battery Ventures, a prominent financer in series A funding also contributed to series B. These new funds will give SolarBridge the ability to finalize testing and certification, arrange more beta sites, increase production and expand its operations, sales and marketing teams. Joshua Ruch, managing partner and co-founder of Rho Ventures, was also brought on to SolarBridge’s board of directors at the conclusion of series B funding.