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Siva Power is a technology company.
Siva Power develops and manufactures high-efficiency, low-cost thin-film photovoltaic (PV) modules, primarily using advanced copper indium gallium deselenide (CIGS) solar cell technology. Its technical approach optimizes material science and manufacturing processes, achieving performance competitive with traditional silicon. This strategy significantly reduces production expenses for solar electricity generation, addressing a key challenge in the renewable energy sector.
The company originated as Solexant in 2006, founded by Damoder Reddy. He leveraged his extensive background in advanced material development, pursuing novel semiconductor architectures for improved solar conversion. Solexant rebranded to Siva Power, then refocused its efforts in 2013 to scale CIGS thin-film technology, aiming to overcome existing solar solution limitations concerning efficiency and manufacturing costs, building on its foundational insights.
Siva Power targets the broad solar energy market, providing a cost-effective, high-performance alternative to conventional PV panels. Its long-term vision is to significantly lower the levelized cost of solar electricity. This aims to accelerate global adoption of affordable, sustainable energy, establishing solar power as a universally accessible and economically superior source for a wide array of applications.
Siva Power has raised $162.0M across 10 funding rounds.
Siva Power has raised $162.0M in total across 10 funding rounds.
Siva Power has raised $162.0M in total across 10 funding rounds.
Siva Power's investors include Jim Simons, Mark Heising, Jon Sheets, Acero Capital, DBL Partners, Medley Partners, Trident Capital, U.S. Department of Energy, WuXi AppTec, Bessemer Venture Partners, Forgepoint Capital.
Siva Power is a U.S.-based solar technology company that developed high-throughput, thin‑film CIGS (copper–indium–gallium–selenide) photovoltaic manufacturing approaches aimed at lowering module cost and enabling gigawatt‑scale production, though public records indicate the company has undergone restructurings and periods of limited public activity since its relaunch from Solexant in the 2010s.[2][4]
High‑Level Overview
Origin Story
Core Differentiators
Role in the Broader Tech Landscape
Quick Take & Future Outlook
Quick reminder: factual statements above are drawn from company profiles, news coverage of the Solexant→Siva Power rebrand and technology focus, DOE SunShot program reporting, and archival summaries indicating later operational uncertainty[1][4][2][7]. If you want, I can compile a timeline of funding, DOE awards, patents, and press coverage or search for any more recent 2023–2025 updates or filings about Siva Power.
Siva Power has raised $162.0M across 10 funding rounds. Most recently, it raised $25.0M Other Equity in May 2017.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 23, 2017 | $25.0M Other Equity | Jim Simons, Mark Heising | Jon Sheets |
| Jan 31, 2015 | $10.0M Debt / Other Equity / Series D | Acero Capital, DBL Partners, Medley Partners, Trident Capital, U.S. Department of Energy, WuXi AppTec | |
| Jan 1, 2015 | $10.0M Series D | Bessemer Venture Partners, Forgepoint Capital | |
| Jun 19, 2014 | $15.0M Other Equity | Acero Capital, DBL Partners, Trident Capital, WuXi AppTec | |
| Jun 1, 2014 | $15.0M Venture Round | Bessemer Venture Partners, Forgepoint Capital | |
| Mar 1, 2012 | $30K Venture Round | Bessemer Venture Partners, Forgepoint Capital | |
| Jun 1, 2011 | $23.0M Series C | Bessemer Venture Partners, Forgepoint Capital | |
| Jun 1, 2010 | $42.0M Series C | Bessemer Venture Partners, Forgepoint Capital | |
| Oct 1, 2008 | $18.0M Series B | Bessemer Venture Partners, Forgepoint Capital | |
| Aug 1, 2007 | $4.0M Series A | Bessemer Venture Partners, Forgepoint Capital |