Kunshan GCL Optoelectronic Materials raises US$13.8M Series D to push perovskite solar to market
What's the deal? Kunshan GCL Photoelectric Materials has closed a Series D round of over US$13.8M, led by Jinxin CapitalDealroom has a profile for this one. Try Dealroom →. HongShan, Xiang'an Venture Capital, Suzhou Asset ManagementDealroom has a profile for this one. Try Dealroom →, and other institutions also joined.
What does it do? Founded in 2013, GCL Photoelectric is one of the earliest Chinese companies to pursue the industrialisation of perovskite photovoltaics. It runs a 100MW research and development line and is ramping up a gigawatt-level production line.
What's the money for? The funds will primarily support commercial delivery of perovskite modules for ground-mounted solar power stations and the validation of space photovoltaic applications.
What's the endgame? The company's certified efficiency has reached 27% on its 2m² tandem module and 30.23% on a 2,042cm² perovskite-silicon tandem module. It is also testing perovskite cells in low-earth orbit through partnerships with SpaceTDealroom has a profile for this one. Try Dealroom → and Phenomenon Innovation, aiming to verify performance and degradation in space.
Why now? The raise follows a Series C2 round of nearly US$27.5M in July 2025. Since its 2020 angel round, GCL Photoelectric has drawn backing from CATL, TCL Group, Tencent, Temasek, and HongShan, with total financing exceeding one billion CNY.
The signal: Perovskite has long promised cheaper, more efficient solar than conventional silicon. GCL Photoelectric's move from lab records to ground-mounted delivery — and its reach into space applications — marks a step toward proving the technology can scale commercially.
Read more: EnergyTrend
Image credit: Generated with Gemini
