SolarBridge raises $42 million to fund expansion plans
Post date: 11/03/2014
US microinverter company SolarBridge Technologies Inc. has closed a $42 million funding round led by Constellation Technology Ventures, part of US energy provider Exelon Corp. The funding will be used to expand sales and marketing activities and for R&D. SolarBridge provides solar inverters and monitoring technology for the residential and small-scale commercial PV markets in North America and Australia. The company’s microinverters are designed for use in AC modules.
As part of the deal with Constellation, Michael Smith, Constellation vice president and head of Constellation Technology Ventures, will join the SolarBridge board of directors. Other participants in the funding round included previous investors Shea Ventures, Rho Ventures and Prelude Ventures. SolarBridge has raised more than $113 million to date.