Mountain View, Calif. -- Seven months after initially closing its third round of funding, Mountain View-based SolFocus, a developer of systems that generate electricity from solar panels, said on Thursday that it has raised an additional $30.6 million to close the round at $77.6 million. Apex Venture Partners led the round, which also included participation from previous backers New Enterprise Associates (NEA) -- which led the previous two rounds -- NGEN and Yellowstone Ventures., as well as new investor Demeter Partners. The company will use the capital as it continues to make the transition from pilot production to full-scale commercialization. SolFocus' system uses reflective optics to concentrate sunlight 650 times onto small, highly efficient solar cells.
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