Thursday, October 11, 2007

Innovalight Raises $28M For Solar Cells

Santa Clara-based Innovalight announced Thursday that the firm has raised $28M in a new round of venture capital. The Series C funding was led by Convexa Capital, and also included new investor Scatec AS. Prior investors Apax Partners, ARCH Venture Partners, Harris & Harris Group, Sevin Rosen Funds and Triton Ventures also invested in the round. Innovalight is developing solar panels which the firm says are based on silicon ink. The firm said that it would be relocating to a new, 30,000 square foot manufacturing facility with the new round of funding. More information »