Solestial raises $17M to expand space solar output in Arizona

Arizona-based Solestial, Inc., a company making solar technology for space, raised $17 million in Series A funding. The money will help it increase production of its silicon-based solar panels to 1 megawatt per year. AE Ventures led the funding round. New investors included Crosscut Ventures, Zeon Ventures, and ME Innovation Fund. Existing investors like Airbus Ventures also joined in. Solestial’s radiation-hardened solar panels are already in use on space missions. To meet growing demand, the company has expanded its Tempe, Arizona facility and increased its workforce.