Wednesday, May 30, 2012

SolarBridge Technologies Nabs $25M In Series D

Austin-based SolarBridge Technologies, which is developing microinverters for the solar power market, said today that it has raised $25M in a Series D funding round. The new funding brings the company's total raised to $71M in funding. The new round was led by a new investor, Shea Ventures, and also included prior investors Battery Ventures, Rho Ventures and Osage University Partners. SolarBridge, which is headed by Ron Van Dell, develops microinverters which connect into photovoltaic solar modules to convert the DC power generated by those devices into usable, AC power. The firm's microinverters are used instead of less flexible central power inverters, which generally require more attention given to power run limitations, and are more difficult to install, and often more inefficient due to power loss. Shea Ventures is the venture capital arm of homebuilder Shea Homes. More information »