Konarka nets $13.5 million second round

Oct. 28, 2002 — Konarka Technologies Inc., a Lowell, Mass., developer of nanoparticle-based photovoltaic energy generation products, has received $13.5 million in second round financing, according to Paul Wormser, chief operating officer.

Draper Fisher Jurvetson led the round. Zero Stage Capital, Ardesta LLC and NextGen Partners also participated. Ardesta is the parent company of Small Times Media.

Zero Stage led Konarka’s first round financing in 2001, which included individual investors and the University of Massachusetts, according to Wormser, who said total funding to date is approximately $14.5 million.

The company intends to use the funding to open a pilot manufacturing line and continue product development, Wormser said. Founded in June, 2001, the 25-person company will seek to raise a third round of financing in 2004.


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