Draker Laboratories Completes $3M Equity Funding Round; Receives $1.5M Credit Facility
Draker Laboratories, a Burlington, Vermont-based provider of monitoring solutions for large commercial and utility-scale solar photovoltaic (PV) systems, completed a $3m equity funding round.
The round was led by Harbor Light Capital Partners, with participation from existing investors FreshTracks Capital and Campbell Scientific.
The company intends to use the new capital to develop its technology infrastructure to scale its current products and services, as well as to add engineers, project managers, and field services and customer support personnel (http://www.drakerlabs.com/company/jobs).
In conjunction with the funding, Todd Warden, Managing Partner at Harbor Light, will join Draker’s Board of Directors.
Led by CEO, Charles “Chach” Curtis, the company provides end-to-end monitoring solutions designed to help owners and operators of commercial and utility-scale PV systems maximize the efficiency and profitability of their solar assets.
Draker, which also secured a new $1.5m credit facility to be used for working capital needs, operates a field sales and operations office in Sacramento, California.