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Aei Horizonx Invests In Solestial As Part Of Its Oversubscribed $10M Seed Round

RECENTLY ACQUIREDNov 16, 2022over 3 years ago

Amount Raised

$10 Million

Round Type

seed

TempeOtherEnergy

Investors

Industrious VenturesStellar VenturesGpvcAirbus VenturesAe Industrial Partners'

Description

AEI HorizonX, AE Industrial Partners' venture capital investment platform formed in partnership with The Boeing Company, today announced an investment in Solestial, Inc. ("Solestial" or the "Company"), a solar energy company for space. AEI HorizonX invested alongside Airbus Ventures, GPVC, Stellar Ventures, Industrious Ventures, and others in the $10 million oversubscribed seed round. This also marked the first investment from AEI HorizonX's second venture fund ("Fund II"), which supports promising start-ups in future mobility, space, sustainability, digital enterprise applications, networks, and security.

Company Information

Company

Solestial

Location

7700 SOUTH RIVER PARKWAY

Tempe, Arizona, United States

About

Solestial, Inc. is the solar energy company for space. Our breakthrough technology is a silicon solar cell engineered for space to self-cure radiation damage under sunlight at temperatures as low as 65°C. Solestial solar cells are packaged in a flexible solar power module engineered to withstand up to 10 years in a variety of destinations in space. Our flexible solar power modules can be produced on automated machines resulting in costs 90% lower than incumbent III-V solar products. Solestial’s innovative technology represents a paradigm shift for space solar; an affordable, durable, scalable solution to power development in space.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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