Solaria raises $20 million (San Francisco)
Fremont-based solar panel manufacturer Solaria Corp. raised $65 million in its Series D round the company announced today. That figure represents an additional $20 million on top of the $45 million the company announced it had raised in its Series D in May.
San Francisco-based CMEA Capital and DBL Investors led the funding round, which included a $10 million loan. Other investors included Adams Street Partners, Cycad Group, and Western Technologies Inc. Existing invedtors include Sigma Partners, NGEN Partners, Mitsui Ventures and Savitr Capital.
Solaria's panels contain solar cells that use strips of silicon and special glass that magnifies the sun onto those strips. Using less silicon keeps the cost of the panels lower than some competitors. It will manufacture the panels at a factory its retrofitting in Fremont.
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