BlueDot Photonics, developer of solutions to improve solar panel performance, has announced that it raised $1 million in its Series Seed financing. The round was led by VoLo Earth Ventures, an early-stage VC investing in the new energy economy through innovative products and technologies.
BlueDot Photonics brought over $1.5M in non-dilutive grants and projects to the table to help the company towards its goal of creating gigaton reductions in greenhouse gas emissions through faster deployment of solar power. BlueDot's quantum-cutting technology can lower the cost of solar power by up to 10% by improving energy yield in solar panels by up to 16%. Long-term, BlueDot is committed to pushing solar panel efficiency and costs beyond the limits of current silicon technology. Other investors include Clean Energy Venture Group (CEVG) of Boston, MA, who helped with investment syndication, and E8 of Seattle, WA.