Crystalsol, a developer of flexible solar photovoltaic (PV) technology, has secured €8m through a Series A funding round led by Conor Venture Partners.
In addition, the company secured a new contribution from Austria’s Arax Capital Partners, and Energy Future Invest, a Norwegian venture capital company dedicated to the cleantech sector.
Jari Mieskonen, managing partner of Conor, said, “As lead investors into crystalsol we have managed to complete a substantial financing round to continue the development of crystalsol´s disruptive technology.
“Key focus is on ramping-up a low investment roll-to-roll pilot production line for our semi-finished photovoltaic film. This semi-finished product will allow true integration into building elements of different shapes and sizes and will thereby eliminate up to one hundred percent of the sealing cost.”
Finland-based Conor is currently investing out of its second fund targeting technology investments in the Nordic and Baltic regions.
Conor Technology Fund II received €46.5m in commitments for its first close, with investors including the European Investment Fund, Finnish Industry Investment, Etera Mutual Pension Insurance Company, Veritas Pension Insurance Company, Atine Investment Partners and a fund of funds managed by Finnish Industry Investment.
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