MILPITAS, Calif.--(BUSINESS WIRE)--Soladigm, a leading manufacturer of highly energy-efficient Dynamic Glass for buildings, announced today that it closed $55 million in Series D equity financing, co-led by Reinet Investments and NanoDimension. Concurrent with the financing, Mr. Weston Quasha, director at Reinet, and Mr. Aymeric Sallin, founder and CEO at NanoDimension, will join Soladigm’s Board of Directors.
This latest investment round, which brings the total equity funding in the company to $125 million, will help accelerate Soladigm’s commercialization efforts and drive global business growth. Soladigm’s existing investors - DBL Investors, GE, Khosla Ventures, Navitas Capital, Sigma Partners, and The Westly Group also participated in this round.
“Dynamic Glass is a game-changing product that delivers on improving occupant comfort, reducing energy consumption and operating cost in buildings,” said Mr. Quasha. “Soladigm is an excellent investment opportunity for Reinet based on the impressive results the team has achieved. The company is well positioned for the future and I look forward to helping them scale internationally.”
“The Soladigm team has demonstrated they can take a sophisticated nanotechnology from concept to industrial scale at a rapid pace, while delivering on product performance, durability and cost. Our interactions with award winning architectural institutions, leading real estate developers, and commercial builders reinforced our strong conviction in both the product and the company,” said Mr. Sallin. “As a result, NanoDimension has significantly increased its investment in this round of financing, and I look forward to helping guide the company’s exciting future.”
“We are seeing very strong reception to our Dynamic Glass product in the commercial and residential sectors. The international perspective Reinet and NanoDimension bring to Soladigm will be vital in expanding our European and global channels,” said Dr. Rao Mulpuri, CEO of Soladigm. “I welcome Weston and Aymeric to our board, and look forward to working with them to scale Soladigm into a world-class company.”
Soladigm Dynamic Glass utilizes electrochromic technology to transition from clear to tinted on demand, and enables control of heat and glare in buildings while providing greater comfort, uninterrupted views, and natural daylight. Soladigm Dynamic Glass can significantly reduce heating, ventilation and air conditioning (HVAC) energy usage in buildings, in particular during times of peak load.
About Soladigm
Soladigm is a leading manufacturer of next-generation smart building solutions designed to improve energy efficiency. The company’s highly energy-efficient Dynamic Glass transitions between clear and tinted on demand, resulting in significant cost savings, environmental benefits, and quality of life enhancements. Soladigm is headquartered in Milpitas, California and has a high volume manufacturing facility in Olive Branch, Mississippi. For more information, visit www.soladigm.com.