SolarBridge obtains $25 million for expansion31. May 2012 | Industry & Suppliers, Markets & Trends | By: Becky Beetz
U.S.-based photovoltaic microinverter company, SolarBridge Technologies has secured US$25 million in Series D funding.
The funding, which was led by Shea Investors and included Battery Ventures, Rho Ventures and Osage University Partners, will reportedly be used towards the global expansion of SolarBridge, in addition to helping launch new hard- and soft-ware products, and increase marketing efforts.
To date, the company, which manufactures microinverters for the residential and small commercial solar sectors, says it has raised $71 million. "As the market for rooftop solar continues to grow, we are excited to partner with SolarBridge, which provides innovative and reliable microinverter technology and a highly differentiated business model," said Jason Schoettler, managing director of Shea Ventures.
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