Canada-based chipset technology developer Solantro Semiconductor Corp has raised $11m in series B funding from investors including Presidio Ventures, a venture capital subsidiary of conglomerate Sumitomo.
The round also included Inerjys Ventures, Black Coral Capital, Business Development Bank of Canada (BDC), Clean Energy Venture Group and Export Development Canada (EDC).
Founded in 2009, Solantro produces system-on-chip technology used in power conversion systems for distributed and scalable renewable energy. It will use the funding to meet increased customer demand.
Solantro previously raised $10m in a 2012 series A round led by Black Coral and backed by Presidio Ventures, BDC and EDC. It also received $3.8m in grant funding from Sustainable Technology Development Canada in 2013.
– Photo courtesy of Solantro Semiconductor Corp