Indoor solar cell firm Epishine raises US$5.5 million
Epishine AB (Linkoping, Sweden), a developer of indoor solar cells, has raised 60 million SEK (about US$5.5 million) in its latest funding round.
Jula Miljö & Energi is the largest investor, with support from existing investors including Vigo Carlund, Philian and Beijer. The funding will be used for continued product development and to scale production, the company said.
Epishine, a startup founded in 2016, has previously raised about US$7 million across four funding rounds. It claims its printed organic solar cells can help make electronics self-powered reducing the use of power cables and disposable batteries.
“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,” said Anna Björklou, CEO at Epishine, in a statement.
Björklou said she expects to see several product launches incorporating Epishine technology to launch during 2023. “Epishine remains committed to its core mission to pioneer printed solar power for people and planet, and the funds raised will be instrumental in bringing innovative solutions to the market, creating value for customers and stakeholders alike.”
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