US-based solar microinverter and monitoring technology developer SolarBridge Technologies is seeking to extend its series E round from the $42m it recently raised from investors inluding Constellation Technology Ventures, the corporate venturing unit of US-based energy company Exelon, to $44.6m, according to a federal filing.
Constellation Technology was joined in the round by Rho Ventures, Shea Ventures and Prelide Ventures. Proceeds will be allocated to expand sales and marketing and to continue the company’s focus on research and development as it scales its customer base across North America and Australia.
The investment brought the company’s total venture capital funding to $101m, with past investors also including Battery Ventures, Texas Emerging Technology Fund and Osage University Partners. In addition, SolarBridge has been awarded $4m in grants from the US Department of Energy.