The Solar Impulse: Solar Impulsion wins $500M in Series B
Solar Impulsive won $500 million in Series A funding from the Andreessen Horowitz investment group, the companies announced Monday.
The deal represents the first financing for a solar energy company in the United States.
The solar panel maker was founded in 2010 by two entrepreneurs in San Francisco.
It’s a leading provider of photovoltaic solar cells.
The investors, Andreessen, Boost VC and Founders Fund, have also backed other successful solar energy startups.
The Solar Impulses initial funding came in at $10 million, according to a news release.
The company’s previous funding round raised $4 million in 2013.
The deal will be used to develop, produce, and market the Solar Impowered Solar Panels, the company said.
The project is being led by Solar Impact, the startup that founded the company.
The group has raised $150 million in funding in the past, and was valued at $1 billion at the time of its IPO.
The Solar Impellent Solar Panes are a more efficient and more reliable alternative to conventional solar panels.
Solar Impulsion, which was founded as a spinoff of Solar Impower, is a company founded in 2013 by two former NASA astronauts, Mark Zuckerberg and Peter Diamandis.
The founders built the company in an effort to bring sustainable solar power to the masses.
Solar Impraction, which now has nearly 1,000 employees worldwide, has raised nearly $200 million.