Solar photovoltaic company Tigo Energy raises further $10m in venture capital

27th May 2009

Solar photovoltaic company Tigo Energy has closed its second round of venture funding. The $10m round was led by Israel Cleantech Ventures, and joined by existing investors Matrix Partners, OVP and Clal Energy.
Following the round, Meir Ukeles of ICV has joined the Tigo board of directors.

Tigo Energy President Ron Hadar, said, ‘Particularly given the state of the current financial and venture markets, Tigo Energy’s rapid close of this round shows great confidence by the venture community in our product, progress and people.’

Founded in 2007, Tigo Energy completed initial funding with a Series A round led by Matrix Partners and OVP, and successfully deployed 18 installations in the US, Europe and Japan.

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