SolarEdge Technologies, based in Hod Hasharon, Israel, offers distributed solar power harvesting and PV monitoring solutions. Its power optimizers perform MPPT at the individual panel level while maintaining a fixed DC string voltage and feeding a tailor-made SolarEdge PV inverter. The system enables module-level monitoring, flexible system design, optimal roof utilization and includes a SafeDC mechanism to shut down module voltage during installation, maintenance and firefighting. SolarEdge has experienced major growth over the last two years and is described as a globally recognized brand in solar power harvesting and PV monitoring. The company plans to accelerate global expansion and production plans following its latest funding. The new capital is intended to strengthen the balance sheet and further enhance its leadership in the solar power optimization market. SolarEdge Technologies is a Grass Valley, CA-based provider of end-to-end distributed solar power harvesting and monitoring solutions. Its PV power harvesting solution comprises PowerBoxes (module-integrated power optimizers), solar inverters and a module-level PV monitoring portal. The company says this solution can enable production of up to 25% more energy from any PV installation, yielding a faster return on investment. SolarEdge plans to use a recent US$25m financing to multiply production capacity and to intensify local sales and support activities across major markets. The funding round was led by Lightspeed Venture Partners and included participation from existing investors Opus Capital, Genesis Partners, Walden International, ORR Partners, Vertex Venture Capital and JP Asia Capital Partners. The company emphasizes scaling manufacturing and market support to drive deployment of its module-level optimization and monitoring technology. SolarEdge develops photovoltaic (PV) power-harvesting systems. Its core product is a solar power harvesting system that can be embedded in practically all types of solar photovoltaic panels to maximize power generation while reducing costs. The company said it will use the financing to support growth in residential and large-scale photovoltaic sites and to further promote its system. SolarEdge raised US$23m in equity financing. Investors included GE Energy Financial Services, Opus Capital, Walden International, Genesis Partners, Vertex Venture Capital and JP Capital Asia; the details of each investor's contribution were not disclosed. By partnering with GE, SolarEdge expects to benefit from GE's R&D capabilities, energy-technology expertise and commercial market reach.

Total raised

$85M

Funding rounds

3

Latest round

Equity

Latest activity

Oct 2011