Nanosolar Raises $5m in Series A Funding

Nanosolar have just closed their Series A funding round, successfully raising $5million , as well as a further $1.5million in venture lease financing. Major contributors to the Series A funding round were US Venture Partner, Benchmark Capital and Stanford University, with Western Technology Investment providing the lease financing.

The funding will be used to further develop their product as well as to establish key supplier, manufacturing and distribution partnerships.

They are a privately owned company and a leader in the field of easy-to-handle, very low cost solar electricity cells.

Nanosolar were founded in 2001 and have developed breakthrough technology which leverages off more then 15 years of research and development in self-assembling nanostructures and organic photovoltaics. The technology was originally developed by Sandia National Laboratory, part of the US Department of Energy, who have licensed the technology to Nanosolar.

For more information on photovoltaics, click here.

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