Alta Devices, With Links to Caltech, Gains $72M

A new startup with links to Caltech has just raised $72M in funding. According to Santa Clara-based Alta Devices, it is developing technology to improve the production economics of high efficiency solar photovoltaics (PV). The firm scored the funding from August Capital, Kleiner Perkins Caufield and Byers, Crosslink Capital, DAG Ventures, New Enterprise Associates (NEA), Technology Partners, Sumitomo, Dow Chemical, Alberta Investment Management Corporation (AIMCo), Good Energies, and Energy Technology Ventures (a joint venture of GE, ConocoPhilips, and NRG Energy). Alta Devices< is based on the research of Caltech's Harry Atwater, Professor of Applied Physics and Materials Science at Caltech, along with co-founder Eli Yablonovitch of UC Berkeley. Atwater focuses on research in synthesis, properties and processing of electronic materials for use in the electronic and optoelectronic devices. More information »