Soladigm adds $10M for total $40M Series C

The Westly Group and Navitas Capital join existing investors

Back in December, we reported on Soladigm's Series C round, during which the green building solutions company raised an impressive $30 million from  DBL Investors and Nano Dimension, with help from GE Energy Financial Services, Khosla Ventures, and Sigma Partners. The company announced Tuesday that it has secured an additional $10 million from The Westly Group and Navitas Capital for a Series C round totaling $40 million. 

The Milpitas, Calif.-based company has been catching the eye of investors since 2009 with its "dynamic glass" windows for commercial buildings, which tint electronically to block out sunlight, thereby cutting cooling costs by 25% (for peak loads, the company claims it can cut HVAC costs by as much as 30%). This can make a huge difference in a large commercial building that spends oodles of money each month on air conditioning costs in the summer months. (If you've ever been to New York City in August, you'll stand in line at a bank to open a checking account just to have an excuse to get inside an air-conditioned building.) Some 20% of the total energy consumed in the U.S. is used for heating, cooling, and lighting in commercial buildings, so it makes sense to start there when providing green solutions.

Gary Dillabough, managing partner at The Westly Group, agrees. “Dynamic glass facades and windows will revolutionize building design and have the potential to be one of the most impactful technologies for improving energy efficiency,” he said in a prepared statement. “We have been closely following this space for more than two years and have seen Soladigm emerge as the front-runner. The company has made significant technical advances and assembled a world-class team to bring high-quality, affordable Dynamic Glass to market and I look forward to working with the Soladigm team to drive widespread adoption of the technology.”

Gary Dillabough is joining Soladigm's board of directors.

In November, Soladigm was selected as one of 12 business partners for investment and commercial partnerships through GE’s ecomagination Challenge, a $200 million competition to see which entrepreneurs, investors, or students can develop the most innovative new green solution for the next-generation power grid. 

The latest round of funds brings Soladigm's total raised to $66.7 million. 

Image source: Soladigm.com