Solar start-up SolFocus relies on familiar Indian player: Moser Baer
SolFocus, a Palo Alto start-up building solar technology that better concentrates the sun’s power, is relying on a familiar player as its latest investor: India’s manufacturing giant Moser Baer.
SolFocus yesterday named Moser Baer as the final investor participating in its $32 million round of venture capital (a round we already reported, when we noted the company’s whopping $70 million valuation). Moser Baer contributed $7 million.
Moser Baer, as you’ll recall, was a lead investor in another Silicon Valley start-up, called Solaria, and in that deal too, Moser Baer said it would do more than invest: It will help Solaria with its manufacturing process, the companies said.
It is noteworthy that a big player in India is driving the financing and distribution plans of Silicon Valley’s most promising solar technologies.
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