NEXTracker, Inc., a Fremont, California-based designer and manufacturer of advanced single axis PV trackers, completed a $25m Series B equity financing.
The round was led by SJF Ventures, with participation from Tennenbaum Capital Partners and existing investors Sigma Partners and DBL Investors. SJF Ventures’ Dave Kirkpatrick joined NEXTracker’s board in conjunction with the funding.
This financing will ensure that NEXTracker’s technology helps even more solar project owners surmount design and installation challenges, while driving down the cost of solar deployment.”
Led by CEO Dan Shugar, NEXTracker provides solar trackers that aims to maximize system energy output while reducing installation and operating costs. The company has delivered trackers for dozens of projects in sizes exceeding 80MW, across three continents.
It also has offices in Asia, Europe and South America.