SolarBridge Technologies Secures $19 Million in Series C Funding

June 21, 2011 by Jeff Shepard

SolarBridge Technologies (SolarBridge) announced that it has secured $19 million in series C funding. The company has raised more than $46 million to date. The funds, raised from current investors as well as new financial and strategic investors, will be used to ramp up production capacity, expand sales support and logistics organizations and scale up research and development teams.

"We were able to add investors, as well as have current investors participate in our C round of financing," said 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."

Rho Ventures led the B series financing round. Battery Ventures, which led series A funding, also participated in series B. The Texas Emerging Technology Fund participated as an investor and contributed $1.5 million to the B round as well.

With the recent growth and funding, SolarBridge has also doubled the size of its corporate headquarter offices in Austin and by year end will have 75 employees worldwide.

More news and information regarding the latest developments in Smart Grid electronics can be found at Darnell’s SmartGridElectronics.Net.