Telecommunications and internet group SoftBank’s Vision Fund provided $1.1bn of funding for US-based smart glass producer View on Friday, increasing its overall debt and equity financing to more than $1.8bn.
View has created a type of glass dubbed Dynamic Glass which can automatically tint lighter or darker according the amount of direct light coming in, helping to decrease heating and lighting costs. It has been installed in 35 million square feet of buildings, the company said.
The cash will support an increase in View’s manufacturing capabilities as well as research and development.
Tom Cheung, a partner at SoftBank Investment Advisers, which manages Vision Fund, said: “We believe that View has created an entire new market category that makes buildings healthier and smarter.
“They are reinventing the way we create building spaces by putting the well‐being of occupants first. We are very impressed with the care with which [View CEO Rao Mulpuri] and the team have built View and we are excited to partner with them.”
The first corporate investment in View, known as Soladigm, came in its $30m series C round in 2010. GE Energy Financial Services, part of industrial and power technology group General Electric, invested with DBL Investors, NanoDimension, Khosla Ventures and Sigma Partners.
Westly Group and Navitas Capital added $10m to the round in 2011, before Reinet Investments and NanoDimension co-led a $55m series D round in 2012 that included General Electric, DBL Investors, Khosla Ventures, Navitas Capital, Sigma Partners and Westly Group.
View closed a $150m round in 2015 featuring ceramics and glass product maker Corning, NZ Super Fund, Madrone Capital Partners and unnamed additional investors, and a $200m round in June 2017 backed by BlackRock and TIAA Investments that valued it at $1.1bn post-money.
Photo courtesy of View, Inc.
