SolarBridge Technologies, a developer of microinverters for solar installations, has secured $15m (£9m) in series B funding, bringing the total cash that it has raised to date to more than $27m.
Rho Ventures, a new investor in the company, led the financing round. Battery Ventures, which led series A funding, also participated in the series B funding.
The funds will enable SolarBridge to finalise testing and certification, deploy additional beta sites and ramp up production. They will also be used to expand its operations, sales and marketing teams.
The SolarBridge Microinverter performs the same DC-to-AC conversion and Maximum Power Point Tracking (MPPT) function as a central inverter, but at the module level. Unlike other microinverters, the SolarBridge Microinverter is designed to integrate directly to the back of a photovoltaic module, which significantly reduces installation cost and complexity.
Founded in 2004, SolarBridge Technologies is based in Austin, Texas, and has a research and development centre in Champaign, Illinois.