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

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.