The Week in Cleantech: Aug. 26 – Sept. 1
We’re back from our Labor Day holiday here in the U.S., and it’s time to take a look back at the week in cleantech:
It was disclosed via a regulatory filing that kerfless silicon PV company Solexel closed on additional financing in the growth equity round opened in June. As the number of participating investors remained the same, we presume the $40 million capital increase comes from existing investors Kleiner Perkins Caufield & Byers, DAG Ventures, and Technology Partners. The round total stands at $54.7 million.
WaterSmart Software, which seeks to do for domestic water efficiency what Opower is doing for energy efficiency, closed on a $4.5 million Series A round. The round was led by new investor The Westly Group and included participation from Draper Fisher Jurvetson, Physic Ventures, and Apsara Capital.
In the Transportation sector, fleet vehicle optimization company Local Motion raised $6 million in fresh capital from Andreessen Horowitz. The company, formerly an electric vehicle manufacturer known as Weng Motors, now provides software and kit to help companies and municipalities more efficiently share fleet vehicles among their staff.
In M&A, Millennium Power Solutions, a developer of intelligent battery energy storage systems for grid applications, was acquired for $14.5 million by serial cleantech acquirer Blue Earth. Founded in 2012, MPS had raised $300K out of a planned $2 million first round of funding, from undisclosed investors.