Epishine raises €5m to boost solar cell production
Swedish startup Epishine has raised SEK60m (€5m) to help scale up production of its flexible indoor solar cell technology as it heads for another funding round.
The company received a €2.3m grant last year as part of $7m of funding according to the Crunchbase funding database and says it is preparing for its next funding round, scheduled for late 2023. That upcoming funding round will aim to secure additional capital to support the company’s continued expansion, forge strategic partnerships and drive international market growth. It already has a deal with energy harvesting chip maker Atmosic.
- Epishine aims to be world’s largest solar cell maker
- €2.3m to scale up indoor solar cell production in Europe
The Jula Miljö & Energi, part of Jula Holding, represents the largest investor, with strong support from existing investors such as Vigo Carlund, Philian and Beijer. The funding will be strategically allocated to enhance key areas of operations, including product development and scaling up production to meet the growing market demand.
Jula Miljö & Energi focuses on green investments characterized by long-term profitability and sustainability. For Jula Holding, this investment also holds strategic significance for their own businesses, particularly in terms of product development and the increasing digitalization of their retail stores. “Utilizing indoor light as an energy source in different products within our offering is the right step for us which is why this investment falls perfectly under our scope,” said Magnus Sigurd, Business Development Director at Jula Holding.
“We are grateful to have raised 60 million SEK in the current global economy, which is a testament to the confidence our investors have in our vision and progress,” said Anna Björklou, CEO at Epishine (above). “This funding will allow us to accelerate our growth trajectory, introduce new offerings to the market, and solidify our position as a market leader in indoor solar cell technology.”
“We are excited about the road ahead and are looking forward to several new product launches during 2023,” said Björklou. “Our investors’ trust and confidence in our vision motivates us to push boundaries and drive positive change in our industry.”
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