Solar software service provider Aurora closes US$ 250m financing round

• Aurora Solar, a US-based firm that has developed software program to allow the remote layout and also sale of PV systems, has actually shut a US$ 250 million collection C financing round.

Led by technology investment platform Coatue, with follow-on engagement from existing financiers ICONIQ Capital, Energize Ventures and also Fifth Wall, the round takes the total raised by Aurora in the last two years to more than US$ 320 million.

In addition to helping solar specialists to establish the amount of components will fit on a residential property, Aurora said its software program can be utilized to anticipate how much energy a PV system will certainly produce, to compute how many batteries are needed for backup power and to demonstrate how much cash clients can save by changing to solar.

Aurora will certainly use the most up to date financial investment to expand its product roadmap, expand sales as well as consumer assistance, as well as build its leadership team to aid scale the business.

" Our mission is to produce a future of solar power for all. The only means to get to that objective is to make it very easy for solar experts to make as well as sell solar remotely, and also to make it inexpensive for consumers to comprehend and access the benefits of solar," said Sam Adeyemo, co-founder and also CRO of Aurora Solar.

The United States posted a 11% year-on-year increase in domestic solar installs in 2020, according to the Solar Energy Industries Alliance as well as expert company Timber Mackenzie, with around 3.1 GW released, as firms embraced online sales strategies and also on-line allowing procedures. Cheaper prices and also new monetary items are anticipated to more boost roof solar deployment in the coming years.

" Residential solar is readied to grow considerably over the next years," claimed Jaimin Rangwalla, senior taking care of supervisor at Coatue. "Aurora has the potential to open an inflection in this development via decreasing soft costs, such as installation and also permitting."