1366 Technologies, a Lexington, MA-based company developing more efficient photovoltaic panels, has raised a $5.2 million Series B round from North Bridge Venture Partners and Polaris Venture Partners, says company president Frank van Mierlo. An SEC filing puts the total offering amount for the round at $6.2 million, but van Mierlo says the round closed at $5.2 million, with $5 million coming from the venture firms and the remainder coming from investments by 1366 management. He says investors were spurred by funding 1366 received from the U.S. Department of Energy Advanced Projects Research Agency – Energy (ARPA-E) program, which looks to fund innovations in energy efficiency.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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