Aurora Solar eyes product development after closing US$ 200m financing round

Mar 1, 2022 05:08 PM ET
  • San Francisco-based Aurora Solar, a solar sales and also software designer, has shut a US$ 200 million Series D financing round.
Aurora Solar eyes product development after closing US$ 200m financing round
Image: Aurora Solar

Co-led by present investors Coatue as well as Energize Ventures, with follow-on involvement of existing partners Fifth Wall, ICONIQ as well as new capitalists Lux Capital and also Emerson Collective, the round takes the overall increased by Aurora to more than US$ 520 million.

This comes less than a year after the company increased US$ 250 million in a Series C funding round, efficiently increasing the business's previous valuation to US$ 4 billion.

Christopher Hopper, co-founder and CEO of Aurora Solar, claimed: "We are thrilled concerning our next chapter as well as speeding up innovations that make it possible for every participant of the solar organization to take advantage of information and also AI, as well as eventually supply on the assurance of solar."

Aurora Solar said the financing will be used to increase its item advancement and expand the firm's head count.

Samuel Adeyemo, founder and chief profits officer of Aurora Solar claimed software was ending up being a vital part of any type of solar company's innovation as well as operating method.

Aurora Solar's software system has actually made more than 7.5 million solar projects and over 5,000 organisations utilizes its software.

"Aurora's emphasis is to aid our clients take on some of the market's largest challenges head on: accelerating sales cycles, scaling up style procedures, as well as transitioning expensive and also inefficient hands-on processes to automated and integrated process," Adeyemo added.

Last August, Aurora Solar acquired Folsom Labs, the designers of HelioScope, a solar style software remedy focused on the commercial as well as commercial segment, aiding the San Francisco company to cover both property and industrial sectors.

Solar Installers, Manufacturers