Mitt Romney’s campaign jaunt last week to Solyndra’s shuttered headquarters — along with venture-backed Konarka’s announcement of a Chapter 7 bankruptcy filing – drew attention to the solar industry’s most high-profile failures.
But a look at recent funding data indicates that rather than folding their bets in the wake of those colossal bankruptcies, VCs in the solar sector remain bullish on a number of venture-backed companies.
In the past three weeks alone, venture investors have announced financings totaling $180 million for four companies engaged in installing, developing or manufacturing solar cells and systems. The largest investment – a $70 million oversubscribed round for San Jose-based thin film solar cell developer Nanosolar – was announced Friday, with plans to use the money to expand production and R&D. The prior week, solar system installer SunRun announced it had raised $60 million in venture funding to grow its business.
In the following slideshow, we take a look at the seven largest solar funding rounds of the past three months, in ascending order.
Business: Designs and manufactures a photovoltaic system that aims to maximize energy output for a given surface
Funding: Has raised $24 million since 2011, including a $15.5 million round in April.
Investors: Novusmodus, Hanwha Venture Capital Corp., PrairieGold Venture Partners
UPDATE: The article was updated to include mention of Konarka’s bankruptcy filing. The original headline was also changed.
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