The company will also invest in research and development initiatives.
Nanosolar executive chairman of the board Guido Polko said he was hopeful of scaling the business faster with this round of funding.
"With this latest round of funding, Nanosolar will be able to continue ramping up its production capabilities and achieve a faster time-to-market with its products," added Polko.
"The money also will allow us to deepen our R&D efforts aimed at achieving even greater efficiency, and significantly expand our employee base in both Europe and the United States."
The capital comes in from both current and new investors which includes OnPoint Technologies, Mohr Davidow Ventures, Onaha Holdings and international Family Offices.
Nanosolar has a capacity in excess of 100MW and deliveries to multiple international customers in the 2 to 11MW range.
