Draker and Solar Power Technologies Merge and Raise $8M in Funding

▤ Summary

The round was led by Austin Ventures, with participation from Harbor Light Capital Partners and other existing investors from both companies.The company intends to use the funding to accelerate the development of its integrated suite of monitoring, optimization, control and asset management products.as well as to increase its sales and marketing efforts and to expand its operations globally.Ray Burgess, CEO of Solar Power Technologies, will take on the role of President.The combined company will maintain its existing operations in Texas, Vermont, California and New Jersey, with plans for future geographic expansion.

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