Tigo Energy, US-based designer of solar energy optimization technology, which is already backed by Taiwan-based computer maker Inventec Appliances Corporation, has raised $13.1m in a series E funding round led by Alon Ventures, according to a 9 May regulatory filing.
Zvi Alon, chief executive of Alon Ventures, has become chairman of tTigo Energy. Prior to Tigo, Alon founded several companies, two of which have been floated – NetManage and NetVision.
Other investors in this latest round of funding were undisclosed.
In recent investment rounds, Tigo Energy raised $5m in November 2011 (from investors including venture capital fund Israel Cleantech Ventures (ICV) and investment partnership Generation Investment Management), and $18m in December 2011 (led by venture capital firm Bessemer Venture Partners, and with other investors including investment holding company Clal, Inventec Appliances Corporation, venture capital firms OVP Venture Partners and Israel Cleantech Ventures, private equity firm Matrix Partners and investment partnership Generation Investment Management).