U.S. based startup Active Surfaces, a flexible solar panel startup spun out from MIT, has secured $5.6 million in an oversubscribed pre-seed funding round. The round was led by Safar Partners, a deep-tech venture capital fund.
Additional participants include QVT, Lendlease, Umami Capital, Type One Ventures, New Climate Ventures, Sabanci Climate Ventures, SeaX Ventures, and others reflects a diverse support base comprising from institutional VCs to corporate backers.
The startup is focused onto creating solar technology with its lightweight and flexible solar panels that can be integrated virtually into any surface. Unlike bulky traditional solar panels, Active Surfaces’ carry the benefit of seamlessly blending into everyday environments, ranging from small consumer products that can go any anywhere to large commercial offices, and even industrial buildings.
Richard Swartwout, an MIT PhD and co-founder and CTO of the startup stated, “We are thrilled to see such strong support from our investors.” He continued that the funding will enable them to expand their R&D efforts, scale up their production, and bring cutting edge solar solutions to market at much faster pace.
The company has been bolstered by recent addition to its team, including Jeremiah Mwaura, a PhD in Materials/Chemistry with more than a decade of experience in advanced roll to roll manufacturing.