Sol Chip raises $5 Million to Power IoT with Solar Battery
Sol Chip Israel, which has developed a solar battery for IoT applications, announced the completion of the first part of an extensive round of funding of $5 million. Financing round led by Foundation Capital was carried Dowell Propery Holdings Limited of Hong Kong. The amount raised will help the company expand its operations, and the coming days will begin recruiting additional employees, including engineers and experts in communication systems and the Internet of Things (IoT).
Sol Chip has developed, through the integration of solar cell technology chip, special batteries which are an integral part of the processor and injecting it directly energy obtained from sunlight. This technology could be integrated into any mobile device and replace the existing batteries where clean energy and not polluting. The technology enables users to increase the independence of tiny applications, extending the battery life, reduce costs and environmental pollution and increase the reliability of the solar battery.
Sol Chip was founded in 2009 by Dr. Rami both Caesar and Friedlander. In 2013, the Company previously-completed a financing round of $2.5 million in private investment bank in New York, private angel investors.
Dr Both Caesar, founder and CEO, Sol Chipsaid: 'We are very pleased with the growing interest in the company and the technology it has developed, which provides energy solutions and innovative communications applications to a variety of low-energy Internet of Things (IoT). The interest a lot of the current round will allow us to add strategic investor Nosf".