Solaria goes round two with new technology, CEO (Silicon Valley)
In October 2008, Solaria Corp. was a shining Silicon Valley star.
It had raised $77 million from venture and corporate investors to launch its low-cost solar panels, and it was looking for $100 million more to drive growth.
Then it went dark.
Fourteen months later, the Fremont-based startup is hosting a coming-out party, part two. It has a new product and CEO, Dan Shugar. It scrapped its first-generation technology after the recession caused solar panel prices to tank and the company unable to compete.
But Solaria, which hasn’t raised a venture capital round since mid-2007, is working off a $7 million bridge loan and will have to compete in a funding market that spent its lot on solar long ago.
Read the full story in the Silicon Valley/San Jose Business Journal.
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