SolarEdge Technologies, a Grass Valley, CA-based provider of end-to-end Distributed Solar Power Harvesting and monitoring solutions, has secured US$25m in funding.
The round was led by Lightspeed Venture Partners, with participation from existing investors Opus Capital, Genesis Partners, Walden International, ORR Partners, Vertex Venture Capital and JP Asia Capital Partners.
The company will use this financing to multiply its production capacity, intensify local sales and support activities in all major markets.
The SolarEdge PV (Photovoltaic) power harvesting solution includes PowerBoxes, which are module-integrated power optimizers, solar inverters and a module-level PV monitoring portal. This solution enables production of up to 25% more energy from any PV installation and a faster return on investment.