Recently, AndSolar Technology Co., Ltd. (hereinafter referred to as "AndSolar") completed Pre-A round financing of tens of millions of yuan. This round of financing was led by Matrix Partners, and followed by their old shareholder Xianfeng K2VC. The financing funds will be used to expand the R&D investment and to accelerate product delivery, thus increasing market coverage and penetration.
AndSolar is a technology-based enterprise engaged in photovoltaic module-level power electronics (MLPE) and photovoltaic smart energy overall solutions. The company's products cover smart RSD, smart PV module optimizer, photovoltaic energy controller and related smart cloud platform, aiming to provide safe, efficient and smart products for global users. The company have gathered team of experts in various fields such as photovoltaics, IoT, power electronics, and information technology. Starting from deep understanding of the PV application, to built an energy IoT team that has the best understanding of “photovoltaic” application.
In terms of research and development, the company will start by launching a module-level smart rapid shutdown device(RSD), which will provide additional smart value-added services while maintaining the similar cost with the traditional rapid shutdown device, and will launch an optimizer - inverter system solution with cost advantages for high-end projects. Moving forward, AndSolar plan to launch more products with better value.
In terms of market performance, currently AndSolar have received tens of MW of pre-orders and signed several demonstration projects. In the future, AndSolar will thoroughly develop the China domestic market, further implement demonstration projects and collaborate with emerging high-end photovoltaic solution providers. For the overseas market, AndSolar plan to enter the emerging Southeast Asia markets on initial phase, and then further expand the Europe, Americas and Australia markets. After this latest round of financing, AndSolar will use these capital endorsement to develop the photovoltaic module-level power electronics (MLPE) as an entry point to create a safe, efficient and smart distributed energy overall solution and to contribute to the promotion of global energy transformation and green development.