Perovskites firm BlueDot Photonics bags USD 1m in financing

Perovskites. Author: Dennis Schroeder. Source: All Rights Reserved.

May 28 (Renewables Now) - US perovskite materials start-up BlueDot Photonics Inc has raised USD 1 million (EUR 817,000) in a Series Seed financing round led by early-stage venture capital firm VoLo Earth Ventures.

Headquartered in Washington State, BlueDot is a spin-out of the University of Washington. It has developed a quantum-cutting technology that can improve the energy yield in solar panels by up to 16% and, as a result, reduce the cost of solar power by up to 10%.

"Our collaboration with VoLo Earth and other investors will accelerate our prototyping cycles and shorten our time to market,” said Jared Silvia, CEO of BlueDot Photonics.

In addition to the VC firm mentioned above, other investors include Boston-based Clean Energy Venture Group (CEVG) and Seattle-headquartered E8.

(USD 1.0 = EUR 0.817)

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