Utilight, an Israel-based early-stage developer of new methods of wafer-metallization for solar photovoltaic (PV) cells, has raised $4.5m in its series A round from an investment syndicate including Germany-based industrial group Robert Bosch’s corporate venturing unit.
Alongside Robert Bosch Venture Capital (RBVC) in the A round, were venture firms I2BF Global Ventures and Waarde Capital.
Wafer-metallization is the process of applying a conducting metal layer onto a solar PV cell.
Utilight was founded in 2009 by Amir Noy, Misha Matusovsky, Giora Dishon, and Moshe Finarov. Gadi Toren, investment partner at RBVC, will be joining Utilight’s board and said: “We are backing an experienced team with an impressive track record in production processes of advanced technologies.”