QBotix, the Menlo Park, CA-based provider of the Robotic Tracking System™ (RTS) for solar PV project economics, raised $12m in Series B financing.
E.ON and Iberdrola (Inversiones Financieras Perseo, S.L.) joined existing investors, New Enterprise Associates, Firelake Capital Management and Draper Nexus, in the round.
The company intends to use the funds to expand the team, accelerate manufacturing ramp-up and market expansion.
Led by Wasiq Bokhari, Founder and CEO, QBotix creates rugged, intelligent, mobile robots for their optimized tracker system to improve project economics in the commercial and utility-scale solar power plant sectors.
The company has installed systems in U.S. and Japan, and is developing additional projects in the U.S., Europe, Mexico, and Australia.
FinSMEs
15/04/2014