Semprius Closes On $20M In Open C Round

Dow Jones VentureWire

Semprius Inc. secured $20 million in the first tranche of its Series C round, which will be used to build a pilot solar panel manufacturing plant.

Siemens Venture Capital led the round and was joined by returning investors ARCH Venture Partners, Applied Ventures, Illinois Ventures, Intersouth Partners, In-Q-Tel and GVC Investment.

Semprius' representatives weren't available for comment. The company recently said in a securities filing that it's raising a $30 million equity round. Siemens AG said last week that it acquired a 16% stake in the company.

The company is developing solar modules that use optics to concentrate sunlight about a thousand times onto tiny solar cells. The company also said it developed an automated manufacturing process, which uses standard equipment and commodity materials, to lower costs.

The Durham, N.C.-based company received a $500,000 grant from the National Renewable Energy Laboratory in 2009.

Semprius closed an $8.2 million equity round, according to a January 2010 filing. It raised $6.5 million toward the round in 2009.