US-based solar technology company SolarBridge Technologies has raised nearly double its expected amount for its series C round from undisclosed strategic investors, bringing its total to $46m over three rounds.
Ron Van Dell, chief executive of SolarBridge, in April said the company had wanted to raise between $10m and $15m but instead closed on $19m. Van Dell added: "We were able to add [strategic and financial] investors, as well as have current investors participate in our C round of financing."
Its previous investors include venture capital firms Rho Ventures, which led the $15m B round in April last year, and Battery Ventures, which did the same for the series A.
SolarBridge’s produces microinverters, the element of a solar photovoltaic (PV) module that converts solar energy to alternative current electricity, and recently started manufacturing with Celestica.