# Innovalight

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/innovalight

- Industry: Renewable Energy
- Headquarters: Sunnyvale, US
- Website: www.innovalight.com
- Total disclosed funding: $59M
- Latest round: Series D (Jan 5, 2010)
- Investors on record: 12

## About

Innovalight, Inc. is a technology company specializing in innovative solar energy solutions that enhance the efficiency and performance of solar cells and panels for a sustainable future.Innovalight, founded in 2002, is based in Sunnyvale, US, and focuses on developing advanced solar technologies. The company was acquired by DuPont in July 2011, enhancing its operational capabilities. The founder’s history is not detailed, and there are no mentions of subsidiaries or parent companies. Innovalight has completed a total of 13 deals, with its latest funding round being a VENTURE DEBT of USD 4.94 mn, contributing to a total amount raised of USD 3.40 mn.Innovalight provides advanced solar photovoltaic (PV) materials and solutions aimed at improving the efficiency, durability, and reliability of solar energy systems. Their key product, the Innovalight™ solar cell technology, is designed to enhance the conversion efficiency of solar panels, thereby addressing challenges like performance degradation and energy efficiency. Clients include solar module manufacturers and energy providers, with a growing demand for renewable energy solutions worldwide, notably in North America, Europe, and Asia.Innovalight generates revenue primarily through the sale of its proprietary solar technologies to solar product manufacturers. Transactions are typically bulk purchases under long-term contracts, ensuring a stable supply to clients. Revenue streams also include collaborative projects with government entities and energy companies promoting solar energy adoption, making the company a recognized supplier in the solar industry.Following the acquisition by DuPont in July 2011, Innovalight plans to leverage its new resources to enhance its product offerings and expand into new markets. The company aims to launch several innovative solar technologies within the next few years, focusing on improving the efficiency of solar cells. Innovalight is particularly targeting expansion into emerging markets in Asia and Europe, with anticipated growth by 2025. The recent VENTURE DEBT funding will support product development and market entry initiatives.

## Funding rounds

- Series D, Jan 5, 2010, $18M — Apax Partners, ARCH Venture Partners, Sevin Rosen Funds, Triton Ventures, Convexa, 180 Degree Capital, SG Growth Capital, Vertex Holdings
- Series C, Oct 11, 2007, $28M — Apax Partners, ARCH Venture Partners, Sevin Rosen Funds, Triton Ventures, Convexa, 180 Degree Capital, Scatec, Harris & Harris, Ltd.
- Series B, May 1, 2006, $7.5M — Apax Partners, ARCH Venture Partners, Sevin Rosen Funds, Triton Ventures, 180 Degree Capital, Harris & Harris, Ltd.
- Series B, Jan 30, 2002, $5.6M — JMI Equity, Triton Ventures, Castletop Capital

## Investors

- JMI Equity (https://capitalatlas.ai/funds/jmi-equity) — Series B
- Triton Ventures (https://capitalatlas.ai/funds/triton-ventures) — Series B, Series C, Series D
- Castletop Capital — Series B
- Apax Partners (https://capitalatlas.ai/funds/apax-partners) — Series B, Series C, Series D
- ARCH Venture Partners (https://capitalatlas.ai/funds/arch-venture-partners) — Series B, Series C, Series D
- Sevin Rosen Funds (https://capitalatlas.ai/funds/sevin-rosen-funds) — Series B, Series C, Series D
- 180 Degree Capital (https://capitalatlas.ai/funds/180-degree-capital) — Series B, Series C, Series D
- Harris & Harris, Ltd. — Series B, Series C
- Convexa (https://capitalatlas.ai/funds/convexa) — Series C, Series D
- Scatec (https://capitalatlas.ai/funds/scatec) — Series C
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series D
- Vertex Holdings (https://capitalatlas.ai/funds/vertex-holdings) — Series D