Soladigm raises $30M for dynamic glass

Faith Merino · December 14, 2010 · Short URL:

The company manufactures glass that can tint electronically to save energy on air conditioning

When you’re running a business, there’s enough to think about.  The last thing you want to worry about is your air conditioning bill.  That’s where Soladigm swoops in to the rescue.  The green-building solutions provider manufactures “dynamic glass” windows that tint on demand to cut down on heat and glare.  The company announced Tuesday that it has raised a $30 million Series C round of funding led by DBL Investors and Nano Dimension, with help from GE Energy Financial Services, Khosla Ventures, and Sigma Partners.

Last month, the company’s dynamic glass caught the eye of GE, and the company 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.  Soladigm’s dynamic glass can be tinted electronically (so it isn’t like those weird glasses that tint in the sunlight and make wearers look like they just stepped out of 1978), and can cut HVAC usage by 25% in commercial buildings.

“GE is dedicated to driving innovation in generation, transmission, and energy use, and our ecomagination Challenge supports visionary companies such as Soladigm that are bringing game-changing technologies to market,” said Kevin Skillern, managing director of venture capital at GE Energy Financial Services, in a prepared statement. “With GE’s green homes and green hospitals programs, our zero energy home program and other smart grid and energy efficiency initiatives, we see multiple avenues for collaboration with Soladigm’s Dynamic Glass technology.”

Founded in 2009, the Milpitas, Calif.-based company has raised a total of $56.7 million.  The newest round of funding will be used to boost sales and marketing.

Soladigm was not immediately available for comment, but CEO Dr. Rao Mulpuri remarked in the company’s announcement: “Soladigm is on a mission to bring high-quality Dynamic Glass to the market at affordable prices to drive widespread market adoption and reduce energy consumption in buildings while improving the well-being of occupants. The ingenuity, hard work, and dedication of Soladigm’s employees have enabled us to make significant advancements in our technology in a short time.”

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