Vancouver-based Daanaa Resolution has raised $7 million in Series A financing to complete its first product in the solar energy vertical and move into commercialization. The round was led by VoLo Earth Ventures. Daanaa’s chip-based technology allows energy to be transferred freely, safely and efficiently.
VANCOUVER, British Columbia–(BUSINESS WIRE)–Daanaa Resolution, Inc. just announced a Series A investment of USD 7M led by VoLo Earth Ventures. The funding will be used to complete Daanaa’s first product in the solar energy vertical and move into commercialization. VoLo Earth, a venture capital firm investing in the new energy economy, sees Daanaa as a versatile technology addressing the global climate crisis.
Daanaa’s proprietary semiconductors provide medium- and modality-free power transactions. That allows solar panels to overcome conventional hardware restrictions of cell connectivity, optimizers and inverter composition, dramatically increasing power production and reducing BOS costs. The technology features can be seen on Daanaa’s website at the technology page.
Kareem Dabbagh, Managing Partner at VoLo Earth Ventures, is excited about the multiple opportunities to reduce emissions and accelerate the adoption of more affordable solar energy, “Daanaa’s technology transforms a PV module and system into a cheaper and more reliable technology, while improving efficiency and contributing to more reductions in GHGs.” He adds, “The technology can also apply to numerous other industries and verticals, such as electric vehicles and battery management systems. Together with Daanaa’s diligent and execution-driven team, we have a bright path ahead to support global sustainability efforts and make the technology inherently simpler and more efficient.”
Udi Daon, CEO at Daanaa, welcomes the VoLo Earth team, “We’ve made great progress this year, both on the technical and business sides. We enter this new year with more good news with the partnership. VoLo Earth comes to complement our knowledge by bringing their renewables and clean energy expertise. As we enter the commercialization phase, we will be able to expand operations to other verticals and scale effectively.”
VoLo Earth Ventures believes in responsible ESG and climate-based investing for a sustainable future. The team’s diverse backgrounds and complementary skill sets are supporting assets to entrepreneurs changing the world through climate technologies and innovation.