What is mPower Technology?
mPower Technology is at the forefront of solar innovation, developing a groundbreaking technology known as DragonSCALES. This technology features a flexible, interconnected mesh of miniature solar cells, manufactured using established and cost-effective materials and processes from the silicon photovoltaic (PV) and microelectronics industries. DragonSCALES offers unprecedented design flexibility, resilience, and lightweight characteristics, enabling rapid deployment at extremely low costs. The company's approach removes the limitations of traditional silicon and gallium arsenide solar solutions, positioning it as a key player in the advancement of solar energy solutions.
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, Cottonwood Technology Fund, NMA Ventures, and Sun Mountain Capital
Series B (2022): $10M led by Hemisphere Ventures and Cottonwood Technology Fund
Key Investors in mPower Technology
Cottonwood Technology Fund
Cottonwood Technology Fund is an early-stage venture capital fund focused on investing in patent-based hard science and deep tech startups. They specialize in key enabling technologies such as photonics, nanotechnology, and advanced materials, providing capital and business development support to help companies grow from research stage to unicorn status.
Sun Mountain Capital
Sun Mountain Capital is a private equity firm with investment strategies in both direct investment and fund of funds programs spanning venture capital, private credit and growth equity. They are headquartered in Santa Fe, New Mexico.
Hemisphere Ventures
Hemisphere Ventures is an investment firm focused on fostering business growth through the strategic intersection of people, ideas, timing, and technology. They invest in a diverse portfolio of innovative companies, aiming to accelerate their development and success.
What's next for mPower Technology?
With the recent major strategic investment and a substantial total funding amount of $14.4M, mPower Technology is poised for significant expansion. The company's focus on scalable, low-cost flexible solar technology suggests a strategic push towards broader market adoption, potentially targeting applications where traditional solar panels are impractical. Future developments are likely to involve scaling manufacturing capabilities, forging strategic partnerships, and further refining the DragonSCALES technology for diverse environmental conditions and energy generation needs. This funding round signals strong investor confidence in mPower Technology's disruptive potential within the global renewable energy landscape.
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