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Tigo Energy, a solar energy installation technology provider, has raised $6 million in a round of financing. The round was co-led by Matrix Partners and OVP Venture Partners, and the resulting funds will aid Tigo to increase its output and decrease cost of ownership on solar installations, and provide a more favourable return on investment for the company’s customers.
“By working with energy service providers, panel manufacturers and system integrators, Tigo is mitigating several issues which currently result in sub-optimal solar production on new and existing solar installations,” said Tigo’s co-founder, President and COO, Ron Hadar.
“Tigo is seizing a big opportunity and has a uniquely qualified founding team,” said OVP Venture Partner’s Managing Director John Hull, who will join Tigo’s Board of Directors. “Most solar panel installations today operate significantly below their rated output because of a variety of system issues. Tigo’s potential lies in its ability to dramatically increase this efficiency.”
By Síle Mc Mahon
