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NSR, Vedanta In Cleantech Deal

22 April, 2010

Amonix Inc, a California-based manufacturer of concentrated photovoltaic (CPV) solar power systems, has raised $129.4 million (around Rs 575 crore) in series B round from a group of investors including Vedanta Capital LP and New Silk Route (NSR), who are active in India.

Venture capital fund Kleiner Perkins Caufield & Byers (KPCB) led the round along with Adams Street Partners, Angeleno Group, PCG Clean Energy & Technology Fund, Vedanta, NSR and The Westly Group. Amonix’ existing investor MissionPoint Capital Partners also participated in the round, said a company statement.

Amonix has earlier raised $25 million (around Rs 111 crore) in series A round from Goldman Sachs Group and MissionPoint Capital. It also received $15.6 million (about Rs 69.3 crore) in grant funding through the Department of Energy Solar America Initiative (SAI), and another $9.5 million (about Rs 42 crore) in stimulus funding as part of the Federal Recovery Act’s Advanced Energy Manufacturing Tax Credit.  

Brian Robertson, CEO, Amonix, said, in the statement, “the fresh round of funding reinforces the long-term commitment of Amonix to its customers and projects in the field.”

Of the seven new investors, KPCB, Vedanta Capital and NSR are active in India as well. Early this week, NSR has invested Rs 360 crore in Coffee Day Resorts in India. KPCB has also invested in India recently in Reverse Logistics Co, a reverse supply chain solution company, jointly with Reliance Venture Asset Management and Sherpalo Ventures in March.


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NSR, Vedanta In Cleantech Deal

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