Smart glass company Soladigm has raised an additional $10 million in equity financing on top of its previously announced $30 million third-round funding.
The あcompany nabbed new investors The Westly Group and Navitas Capital for the oversubscribed round, which was led by DBL Investors and Nano Dimension and included investment from GE, Khosla Ventures and Sigma Partners.
Soladigm makes electrochromic glass that automatically adjusts tint, which can reduce visual glare and cut cooling and heating costs for commercial buildings. It&'s a product that fits well in the energy efficiency and building controls sectors, which are both expected to do well this year. あThe company says its windows can reduce heating and cooling usage by 25 percent and peak load by 30 percent in commercial buildings.
Last year, the company announced a total of $60 million in financing, nabbed a strategic partnership with GE after being named one of the winners in its Ecoimagination challenge and opening itsあmanufacturing facility, with plans toあdeliver its product on a commercial scale in the first quarter of 2012.
Soladigm was among several winnersあannounced last month in the Ecoimagination challenge, a GE and venture capital-backed contest for clean energy startups. Others are jumping into the tinted glass game. Top glass company Saint-Gobain last yearあinvested $80 million in Sage, a smart glass company with a $72 million conditional loan guarantee from the government for manufacturing facility in Minnesota..
The company said last year it would locate a $130 million factory in Olive Branch, Miss., for which the company received a $40 million loan from the state, as well as $4 million in project improvement incentives.
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Companies: Dbl Investors, GE, Khosla Ventures, Nano Dimension, Navitas Capital, Sigma Partners, Soladigm, The Westly Group
Companies: Dbl Investors, GE, Khosla Ventures, Nano Dimension, Navitas Capital, Sigma Partners, Soladigm, The Westly Group
Iris Kuo is the VentureBeat's lead GreenBeat writer. She has reported for The Wall Street Journal in Hong Kong, Houston Chronicle, the McClatchy Washington Bureau and Dallas public radio. Iris attended the University of Texas at Dallas and lives in Houston. Follow Iris on Twitter @thestatuskuo (and yes, that's how you pronounce her last name).
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