BT Imaging Secures $3.8 Million in Financing, New Investor
Aug. 25 (Bloomberg New Energy Finance) -- BT Imaging Pty Ltd., an Australia-based supplier of inspection tools for photovoltaic manufacturers, secured $3.8 million (A$4.3 million) and landed a new investor in its latest financing round.
The series A2 funding round included new investor Applied Ventures LLC, the venture capital arm of Nasdaq-traded Applied Materials Inc, BT Imaging said yesterday in a statement. Applied Ventures will take an undisclosed equity stake in Sydney-based BT Imaging, the statement said.
Existing investors Allen & Buckeridge, a venture capital firm also in Sydney, and venture fund Uniseed Pty Ltd. also participated in the round. The funding enables venture-capital funded BT Imaging to accelerate product development, expand globally and “strengthen and defend” its portfolio, according to the statement.
“As the solar industry continues to expand, we see an increasing need to address quality control applications to achieve higher production yields and optimized efficiency,” said J. Christopher Moran, vice president and general manager of Applied Ventures. Its Santa Clara-based parent Applied Materials makes the technology used in solar photovoltaic panels that turns sunlight into electricity.
To contact the reporter responsible for this story: Sally Bakewell in London at Sbakewell1@bloomberg.net
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