Soladigm, a Milpitas, California-based manufacturer of energy-efficient dynamic flass for buildings, has closed a $55m Series D equity financing.
The round was co-led by Reinet Investments and NanoDimension, with participation from existing investors DBL Investors, GE, Khosla Ventures, Navitas Capital, Sigma Partners, and The Westly Group.
The company intends to use the funding to accelerate its commercialization efforts and drive global business growth.
In conjunction with the funding, Mr. Weston Quasha, director at Reinet, and Mr. Aymeric Sallin, founder and CEO at NanoDimension, will join Soladigm’s Board of Directors.
Led by CEO Dr. Rao Mulpuri, Soladigm manufactures smart building solutions designed to improve energy efficiency. Its Dynamic Glass uses electrochromic technology to transition from clear to tinted on demand, and enables control of heat and glare in buildings. It is designed to significantly reduce heating, ventilation and air conditioning (HVAC) energy usage in buildings, in particular during times of peak load.
The company has a manufacturing facility in Olive Branch, Mississippi.