SolarEdge Technologies, an Israel-based provider of solar power equipment previously backed by US industrial conglomerate General Electric, has raised $25m in its series C round.
Lightspeed Venture Partners led the round alongside peers Opus Capital, Genesis Partners, Walden International, ORR Partners, Vertex Venture Capital and JP Asia Capital Partners.
In October last year, GE Energy Financial Services joined the consortium investing $23m in SolarEdge as its first investment in Israel. At that time Guy Sella, co-founder and executive chairman of SolarEdge, said: "By partnering with GE, we benefit from the company’s proven R&D capabilities, energy technology expertise and deep commercial market reach."
In the summer, GE launched its $200m ecomagination clean-tech corporate venturing fund and competition.
Prior to GE’s investment round, SolarEdge had raised $34.8m and partnered with BP Solar, a division of oil major BP’s Alternative Energy division.