Solexel, a developer of high-efficiency crystalline silicon solar cells, has raised $31 million in a Series D equity financing. The funding is the company's second equity raise in the last 12 months; it raised close to $55 million of Series C funding at a $295 million valuation in August 2013. The new capital will reportedly be used to move the company towards commercial production in 2015. Solexel currently has a megawatt-scale facility in Milpitas, CA, and is looking to build a similar facility in Malaysia for production of its 35-micron-thick solar technology. Investors in the Series D included existing investors Kleiner Perkins Caufield & Byers, Northgate Capital and DAG Ventures, among others.