Innovalight, Inc., a Sunnyvale, CA-based firm developing and supplying silicon ink-based high efficiency solar cell materials and technology, has raised $18m in additional capital.
The round was led by EDB Investments (EDBI) of Singapore, with participation from Vertex Venture Holdings, the venture subsidiary of Temasek Holdings, Apax Partners, ARCH Venture Partners, Convexa Capital, Harris & Harris Group, Sevin Rosen Funds and Triton Ventures.
The funds will be used to expand the company’s proprietary silicon ink production for customers.
As stated by Conrad Burke, president and chief executive officer of the company, “This new injection of capital will allow Innovalight to expand sufficiently to support our numerous customer engagements.
“We are delighted to add EDB Investments and Vertex Venture Holdings to our already strong syndicate of investors,” he added.