Solaria Corp., a Fremont, Calif.-headquartered manufacturer of solar photovoltaic modules, says it has raised more than anticipated in its recently closed Series D financing round. The round's total of $65 million – which includes $10 million in a growth loan facility – is $20 million above the company's original target.
Adams Street Partners, Cycad Group and Western Technologies Inc. recently joined the Series D round, which was led by CMEA Capital and DBL Investors, following a May 2010 close that included Sigma Partners, NGEN Partners, Mitsui Ventures and Savitr Capital. enXco – an EDF Energies Nouvelles company – also participated in the final close with a small investment.
Solaria plans to use the newly raised funds to increase availability of its modules.
SOURCE: Solaria Corp.