Swift Solar develops perovskite photovoltaic solar cells as a next-generation solar technology. The company says its advanced perovskite cells can outperform current market options. It is a spinout of MIT, Stanford University, and the National Renewable Energy Laboratory and is led by CEO Joel Jean. Swift plans to use new capital to accelerate scaling of its technology and to prepare to break ground on its first factory. The company raised $27M in a Series A to support those plans, partnering with strategic and deeptech investors. No operating metrics were disclosed in the article. Swift Solar develops solar PV products based on metal halide perovskites intended to outperform silicon and thin‑film technologies. The company says its technology could enable months‑long drone flight, EV recharging, home power, and off‑grid or disaster relief applications. Founded in 2017 and led by CEO Joel Jean, Swift Solar has focused on R&D and prototype development. The recent financing will be used to expand R&D capabilities, develop prototypes, and grow the team. Swift Solar has raised over $16M in equity financing to date and also receives non‑dilutive support from the National Science Foundation, the U.S. Department of Energy, and the Office of Naval Research. The company emphasizes performance and versatility as core product attributes.

Total raised

$35M

Funding rounds

2

Latest round

Series A

Latest activity

Jun 2024