seedchange Announces Acquisition of Dragonfly Systems, Its First Listed Company

Innovative power electronics solution for large-scale solar installations developed by Stanford freshmen

News provided by

seedchange

10 Jul, 2014, 04:15 ET

SAN FRANCISCO, July 10, 2014 /PRNewswire/ -- seedchange announced that Dragonfly Systems has agreed to be acquired by a leading manufacturer of solar power systems. Terms of the acquisition were not disclosed.

Dragonfly Systems is the first company to complete its funding round on the seedchange platform.  Dragonfly began working with seedchange, an online platform for early stage investing, in August 2013 and was one of the first early stage companies to list on the seedchange platform. seedchange worked closely with Dragonfly to develop its growth and funding strategy and listed the company earlier this year.

"The clean tech sector was still very much out of favor with investors when we met Dragonfly but we were impressed by the team and the technology," said Kevin Smith, co-founder of seedchange. "They created unique technology that enables significant reductions in the cost of solar power generation and increased reliability of solar modules. And they accomplished a lot in a very short period."

Dragonfly won awards from the US Department of Energy's FLoW competition, the Stanford TomKat Center for Sustainable Energy and The Cleantech Open. Dragonfly also participated in the Highway 1 Incubator for seed stage hardware companies.

The company completed its funding round 75 days after listing on the seedchange platform and entered negotiations for acquisition of the company soon after.  The acquisition closed July 3, providing a quick exit for the company's early stage investors.

"This is an unusually fast track from investment to exit," noted Smith, "Liquidity in this asset class typically takes years and early stage investors can't always expect such early exits. Dragonfly was a quick success."

About seedchange

seedchange is a global platform connecting Wall Street and Silicon Valley and bringing a new asset category to portfolios of smart investors all over the world.  seedchange combines rigorous company analysis with an innovative platform to transform the way investors access, analyze and invest in early-stage companies. https://www.seedchange.com
 
Contact
Kevin Smith
Co-founder and CEO
1.650.703.3749
[email protected]

SOURCE seedchange

PRN Top Stories Newsletters

Sign up to get PRN’s top stories and curated news delivered to your inbox weekly!

Thank you for subscribing!

By signing up you agree to receive content from us.
Our newsletters contain tracking pixels to help us deliver unique content based on each subscriber's engagement and interests. For more information on how we will use your data to ensure we send you relevant content please visit our PRN Consumer Newsletter Privacy Notice. You can withdraw your consent at any time in the footer of every email you'll receive. Mit Ihrer Anmeldung erklären Sie sich damit einverstanden, Inhalte von uns zu erhalten.
Unsere Newsletter enthalten Zählpixel, die die Lieferung einzigartiger Inhalte in Bezug auf das Abonnement und die Interessen der einzelnen Abonnenten ermöglichen. Weitere Informationen über die Verwendung Ihrer Daten im Hinblick auf die Zusendung von relevanten Inhalten, finden Sie in unserer PRN Consumer Newsletter Privacy Notice. Ihre Zustimmung können Sie jederzeit in der Fußzeile jeder erhaltenen E-Mail widerrufen. En vous inscrivant à la newsletter, vous consentez à la réception de contenus de notre part.
Notre newsletter contient des pixels espions nous permettant la fourniture à chaque abonné, d’un contenu unique en lien avec ses souscriptions et intérêts. Pour de plus amples informations sur l’utilisation faite de vos données en vue de l’envoi des contenus concernés, nous vous invitons à consulter la politique de confidentialité disponible à partir du lien suivant PRN Consumer Newsletter Privacy Notice. Vous pouvez à tout moment revenir sur votre consentement par le biais des informations situées au bas de chaque e-mail reçu. Регистрирайки се, Вие се съгласявате да получавате информационно съдържание от нас. Нашите бюлетини съдържат проследяващи пиксели, които ни помагат да предоставяме уникално съдържание въз основа на ангажираността и интересите на всеки абонат. За повече информация относно начина, по който ще използваме Вашите данни, за да гарантираме, че Ви изпращаме подходящо съдържание, моля, направете справка с нашето Уведомление за поверителност на потребителския бюлетин на PRN. Можете да оттеглите съгласието си по всяко време в долния колонтитул на всеки от имейлите, които ще получите.