Khosla Ventures Portfolio Company Raises $13.7M Series B
San Francisco-based solar technology developer PVT Solar has raised $13.7 million in a series B round led by Sigma Partners.
Khosla Ventures, which led the company’s inaugural financing last year, also participated in the financing as well as Energy & Environment Investment, Japan.
PVT Solar also named former SunPower executive, Vikas Desai, as CEO.
The company plans to use the money from this latest raise to expand its operations, including sales and distribution.
PVT has developed a hybrid solar technology. The panels generate solar electricity and also capture heat from the panels for home heating, hot water and other household uses. According to PVT this dual system delivers twice the energy of a basic solar electric system.