US-based companies Solar Power Technologies and Draker have merged and closed an $8m equity raise led by Austin Ventures.
The businesses specialise in performance management solutions for the utility-scale solar marker and will now operate under the Dracker name.
Other investors contributing to the fundraise included Harbor Light Capital Partners, as well as existing backers from both companies.
Ray Burgess, president and CEO of Solar Power Technologies, said, 'Solar owners and operators want more granular and actionable data on both the DC and AC sides of their plants in order to more actively manage performance and improve ROI.
'Until now, existing providers have not adequately addressed these needs with an integrated solution. With this merger, the new Draker becomes the first solution provider to combine selective DC monitoring and optimisation, AC monitoring, intelligent diagnostics and control in a single, cost-effective platform.'
Charles Curtis, CEO of Draker, added, 'This merger and financing solidifies Draker's position as an industry leader and gives us the ability to aggressively compete not only in the United States, but globally.'