Insolight secures €4.6 million funding, which will empower the company to start producing innovative modules and outsource manufacturing.
FREMONT, CA: Switzerland-based startup Insolight announces closing an approx. €4.6 million Series A round. The round was led again by Investiere, with co-investors Zürcher Kantonalbank, Swiss Immo Lab, and a number of private business angels. This Series A financing round, together with the €10 million HIPERION grant from the EU, will allow Insolight to start producing and selling the modules to the market, and the production will be outsourced to external manufacturers.
Founded in 2015, Insolight is a Swiss tech company based at the EPFL Innovation Park in Lausanne, developing and delivering next-generation solar PV panels for the global market. The technology is based on a patented optical technology, which was validated at 29% efficiency in a standard flat module.
So far, the company has created strong partnerships with major industrial players and world-class research centre, and is supported by private investors. Insolight is also supported by several programmes from the European Commission (H2020, Solar-ERA.Net, Eurostars, Climate KIC ), national programmes (Innosuisse, Innovaud, SPEI, FIT, VentureKick, CleanTech Alps), and the European Space Agency (ESA BIC) and EPFL (Innogrant), showcasing the growing interest in the sustainable energy technology the company is developing.
Insolight’s vision is to further improve the return-on-investment of PV installations, ultimately lowering solar electricity costs. Following their first seed round in January 2018, the startup established a world record efficiency for flat solar panels, as certified by IES-UPM. The company has successfully taken the technology out of the lab and proved its capability in real weather conditions.
Insolight is an energy company that develops and manufactures solar panels. It aims to simplify sunlight concentration for photovoltaic systems by changing the way of tracking the sun throughout the year.