Tigo Energy secured $5m in series C financing on Tuesday from investors including venture capital (VC) fund Israel Cleantech Ventures (ICV) and investment partnership Generation Investment Management.
Tigo’s past backers also include investment holding company Clal and wireless communications company Investec Appliances. Both backed Tigo’s initial series C round which raised $10.1m in May 2010. Private equity firm Matrix Partners, VC firm OVP Venture Partners also participated in the 2010 round, as did IVC, all of which were already existing investors at that point.
Founded in 2007, Tigo applies technology to increasing efficiency in solar energy systems. The latest investment takes Tigo’s overall funding to $43.9m since its inception.