Israeli SolarEdge gets USD 37m in funding round

Israeli SolarEdge gets USD 37m in funding round

Oct 24, 2011 - Israeli photovoltaic (PV) solutions provider SolarEdge Technologies said today it had wrapped up a USD-37-million (EUR 27m) financing round.

The company will use the proceeds to speed up its global expansion and production plans and enhance its balance sheet.

Norwest Venture Partners led the financing round. Existing investors Opus Capital, Vertex Venture Capital, Genesis Partners, Walden International, Lightspeed Venture Partners and GE (NYSE:GE) also took part in it, SolarEdge said.

(USD 1 = EUR 0.723)

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Published Oct 24, 2011 16:16 CEST

Author Tsvetomira Tsanova

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Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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