Jumia Technologies, a New York startup that makes solar panels for the home and office, is raising $5 million in seed funding.
The money will go toward the company’s next round of funding, which will be led by Fidelity, the fund manager said in a statement.
Jumia will use the money to develop a commercial version of its panels, which are designed to generate electricity for homeowners.
It also plans to sell its technology to utilities, like utility-scale solar and wind, for the next 10 years, according to the company.
Jumias technology uses a special blend of silicon, silicon dioxide and zinc oxide that converts sunlight into electricity, which can be used for power or for powering appliances.
The company’s solar panels are manufactured by two different companies, which make them at different facilities, Jumian said.
Solar panels can be made with materials like copper or aluminum.
The technology has also been used to create solar water heaters, which use solar panels to heat water.
Jumba is focused on manufacturing solar panels.
The funding comes as solar panels continue to grow in popularity, said David J. Kappel, an analyst at Forrester Research.
Solar PV panels can produce electricity with about 50 percent of the energy from sunlight.
The company’s panels produce more than twice the power of traditional solar panels, but the technology can also have drawbacks, he said.
Solar panels can have a variety of features, including the ability to be installed in multiple locations.
For example, the panels can sit on the roof of a house, on a roof deck or even at the base of a building, he added.
Solar cells, or panels, are made of silicon dioxide, silicon oxide and zinc.
The silicon dioxide is used in the form of carbon nanotubes, which create the light.
The zinc oxide is added to the silicon dioxide.
The combination of silicon and zinc is called the electrolyte.
The electrolyte is used to charge the solar cells.
It takes place in a reaction that converts solar energy into electricity.
This process also provides energy for the electrical grid.
The silicon dioxide component in Jumius panels can also be mixed with water to produce the hydrogen that is used as an energy source in fuel cells.
The hydrogen can be captured in a tank and used to make electricity.