Nanowire solar cell technology developer Sol Voltaics has raised $12.5m in an Umoe-backed series C round, together with a $4.5m grant from the Swedish government.
Sol Voltaics, a Sweden-based developer of nanomaterials that make solar power generation more efficient, secured $12.5m in series C funding on Wednesday from investors including Norway-headquartered conglomerate Umoe.
Riyadh Valley Company, which acts as the venture capital arm of the Saudi Arabia-based King Saud University, led the round, investing alongside asset manager Foundation Asset Management (FAM), the Swedish state-backed Industrifonden and nanotech investment vehicle Nano Future Invest.
The equity funding was closed together with $4.5m of grants from the Swedish…
