SolarEdge Technologies Inc., an Israeli provider of end-to-end solar power optimization and PV monitoring solutions, has closed a $37m funding.
The round was led by Norwest Venture Partners (NVP), with participation from existing investors Opus Capital, Walden International, Genesis Partners, Vertex Venture Capital, Lightspeed Venture Partners and GE Capital.
The company intends to use the funds to accelerate its global expansion and production plans as well as strengthen its balance sheet.
In conjunction with the funding, Dror Nahumi, partner at NVP, will join the company’s board of directors.
Led by CEO Guy Sella, SolarEdge has offices in California, Germany, Italy and Japan.