SolarEdge Technologies Inc has raised $37 million in a round of funding led by California-based Norwest Venture Partners, the Israeli solar energy company said on Monday.
The funding will enable the company to accelerate its global expansion and production plans and strengthen its balance sheet.
Existing investors Opus Capital, Walden International, Genesis Partners, Vertex Venture Capital, Lightspeed Venture Partners and General Electric also participated in the funding round.
SolarEdge has developed a power harvesting and monitoring system for photovoltaic panels that improves the performance of solar energy systems.
