Tigo Energy charges up with $10M for solar power balancing
Tigo Energy, a company that ties together hardware and software systems to improve solar array efficiency, has raised $10 million in a second round of preferred stock, reports VentureWire. By balancing power evenly across solar deployments, the service prevents outages, improves reliability and increases net energy generated, Tigo says.
It raised $6 million in a first round of funding last June from Matrix Partners and OVP Venture Partners.
Tigo Energy raises $6M for solar panel boost
A Los Gatos company that says it brings together innovations from solar, IT and the semiconductor industry, Tigo Energy has raised a first round of funding for a combined hardware / software designed to improve solar panel installations.
Power output, up-time and reliability are all improved, according to Tigo, speeding payback time and heightening the effectiveness of solar panels.
The $6 million funding was co-led by Matrix Partners and OVP Venture Partners.