Insolight successfully raises CHF 2.3 Mio
15.01.2018
2016 Venture Kick winner and solar panel provider announced this morning successful closing a financing round of CHF 2.3 million. The newly acquired funds will allow the company to finalize product development and expand its operations.
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Made possible thanks to lead investor Investiere.ch, and Zürcher Kantonal Bank and a group of private business angels as co-investors, the funds will enable the company to achieve its next milestones. Among other things, Insolight will be able to complete product development for its solar panels, demonstrate the performances on the field with multiple pilot installations in Lausanne and Madrid, and prove the reliability with qualifications tests. This will result in a blueprint solar panel, ready to disrupt the rapidly growing solar market. Insolight’s ultimate goal is to enable the widespread adoption of solar energy on rooftops by reducing solar electricity production costs.
Founded in 2015, Insolight developed a flat optical panel that directs sunlight on smaller and highly efficient solar cells, which are normally used in satellites. The technology can produce twice as much electricity for the same surface area than conventional panels. In August 2016, the yield (the quantity of electricity produced from the light energy received) of Insolight’s first prototype was validated at 36% by a Third Party, the Fraunhofer Institut in Germany. This can be considered as a world record, while solutions currently available on the market offer throughput of only around 18-20%. The same year, the startup was part of the first selection of ESA BIC Switzerland (European Space Agency Business Incubator Centre) and won CHF 130,000 from Venture Kick. 2018 sounds like a promising year for Insolight. Follow its achievements on the company’s website.
Read more about the news here.
Founded in 2015, Insolight developed a flat optical panel that directs sunlight on smaller and highly efficient solar cells, which are normally used in satellites. The technology can produce twice as much electricity for the same surface area than conventional panels. In August 2016, the yield (the quantity of electricity produced from the light energy received) of Insolight’s first prototype was validated at 36% by a Third Party, the Fraunhofer Institut in Germany. This can be considered as a world record, while solutions currently available on the market offer throughput of only around 18-20%. The same year, the startup was part of the first selection of ESA BIC Switzerland (European Space Agency Business Incubator Centre) and won CHF 130,000 from Venture Kick. 2018 sounds like a promising year for Insolight. Follow its achievements on the company’s website.
Read more about the news here.