What is mPower Technology?
mPower Technology is at the forefront of solar energy innovation, developing a groundbreaking flexible, interconnected mesh of miniature solar cells known as DragonSCALES. This technology leverages established and cost-effective materials and manufacturing processes from the silicon photovoltaic (PV) and microelectronics sectors. DragonSCALES offers unprecedented design flexibility, resilience, and lightweight characteristics, enabling rapid deployment and significantly reducing costs compared to traditional silicon and gallium arsenide solar solutions. The company's approach removes the inherent constraints of existing solar technologies, paving the way for novel applications and widespread adoption.
How much funding has mPower Technology raised?
mPower Technology has raised a total of $14.3M across 2 funding rounds:
Series A
$4.3M
Series B
$10M
Series A (2020): $4.4M with participation from Sandia National Laboratories, Sun Mountain Capital, NMA Ventures, and Cottonwood Technology Fund
Series B (2022): $10M led by Cottonwood Technology Fund and Hemisphere Ventures
Key Investors in mPower Technology
Cottonwood Technology Fund
Cottonwood Technology Fund is an early-stage venture capital fund specializing in patent-based hard science and deep tech startups, particularly in photonics and nanotechnology. They provide capital and business development support to help companies grow from research to significant market disruption.
Hemisphere Ventures
Hemisphere Ventures is an investment firm focused on accelerating the growth of innovative companies through strategic investments in people, ideas, timing, and technology, operating across the USA and Singapore.
Sun Mountain Capital
Sun Mountain Capital is a private equity firm with investment strategies in direct investment and fund of funds programs, spanning venture capital, private credit, and growth equity, headquartered in Santa Fe, New Mexico.
What's next for mPower Technology?
The recent major strategic investment in mPower Technology signals a pivotal growth phase for the company. This capital infusion is expected to accelerate the scaling of its DragonSCALES technology, enhance manufacturing capabilities, and expand market reach. The company's focus on leveraging existing industry infrastructure for production suggests a strategic pathway to cost-effective mass production. Future developments will likely concentrate on solidifying partnerships, securing further commercial agreements, and continuing research and development to optimize the performance and application range of their flexible solar solutions. This strategic backing positions mPower Technology to capture a significant share of the evolving renewable energy market.
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