Sol Voltaics, a Lund, Sweden-based solar technology company, closed $21.3m in funding.
Backers included Watrium AS, Kagra Gruppen AS, Industrifonden, FAM AB, Nano Future Invest, Blue Marlin AB and Teknoinvest AS.
The company intends to use the funds to accelerate commercialization of its technology.
Led by Erik Smith, CEO, Sol Voltaics develops solar efficiency boosting technology, SolFilm™, a patented, low cost thin-film which is comprised of billions of highly efficient Gallium Arsenide (GaAs) nanowires, which aims to increase conventional solar panel efficiencies.
Having recently confirmed the manufacture of nanowires using their low-cost process Aerotaxy®, the company is now in the final stages of technology optimization, with anticipated samples being sent to partners by the end of 2018.