Solar Cell Company SoftPV Raises 3.7 Billion KRW in Series A Funding

[Asia Economy Reporter Kwak Minjae] SoftFive, a solar energy solution company that invented the bead-shaped solar cell ‘SoftCell,’ announced on the 5th that it has completed an investment of 3.7 billion KRW as part of its Series A funding.

The Series A investment in SoftFive included participation from Withus Investment Fund 1 and 2. So far, SoftFive has raised approximately 8 billion KRW in cumulative investments. The funds will be used to relocate the headquarters in line with company growth, establish a small-scale production facility, and expand equipment.

SoftFive developed SoftCell, a solar cell that can be used as an electronic component using three-dimensional silicon beads about 1mm in size, and won the Innovation Award at CES 2021 last year. This year, it also demonstrated its technological prowess by winning the Innovation Award at CES 2022 with Soltria, a tree-shaped solar power generation system capable of producing the maximum solar power per unit area.

On April 23, SoftFive also won a bronze award at the 2022 Edison Awards, a U.S. invention ceremony. Going forward, as a leading technology company in the climate tech field through solar energy solutions, it plans to reduce carbon dioxide and address global warming.

Kim Hongkyum, CEO of Withus Investment Fund, said, “SoftFive is creating innovative products that can fundamentally change our lives through various solar energy solutions based on its innovative three-dimensional bead-shaped solar cell technology,” and added, “We highly evaluated its potential as a technology company leading renewable energy issues such as RE100 and sustainability.”

Hyunwoo Ahn, CEO of SoftFive, said, “Currently, based on Soltria, we are receiving project inquiries from Korea, U.S. state governments, South America, and the Middle East regarding various energy self-sufficient smart space solutions such as smart shelters, smart parks, and smart artificial islands,” and added, “We will grow into a good global company leading the blue ocean market of energy self-sufficient space solutions.”