Mitsui-backed solar technology company Solaria has secured $30m in its latest funding round, according to a filing with the US Securities & Exchanges Commission, made on 23rd November.
Although Solaria has not officially disclosed the identity of the investors in the series E round, the signatories on the filing indicate participation by venture capital (VC) firms CMEA Capital, DBL Investors, NGEN Partners and Sigma Partners, all of which are existing investors.
Solaria has now raised a total of $162m since 2003. In addition to the current round’s backers, investors include Japan-based corporate venturing unit Mitsui Ventures, optical media company Moserbaer India, solar cell manufacturer Q-Cells, VC firm the Cycad Group, venture debt firm Western Technology Investment, investment firms Siebels Asset Management and Savitr Capital, and private equity firm Adams Street Partners.
Solaria manufactures photovoltaic modules and systems for solar energy plants, and can be provided separately or as part of a Solaria-made solar tracking system. Solaria claims its modules have the smallest carbon footprint and fastest energy payback of any silicon-based solar panel.