Tigo Energy raises $10m Series B from ICV, Matrix, OVP and Clal Energy

Tigo Energy, a solar start-up whose unique technology significantly increases efficiency in photovoltaic solar installations, announced today that it has closed its Series B round of funding.

The $10 million round was led by Israel Cleantech Ventures and joined by all existing investors (Matrix Partners, OVP and Clal Energy). The series B financing represented a significant premium to Tigo Energy’s $6 million Series A venture round in May of 2008.

Meir Ukeles of Israel Cleantech Ventures has joined the Tigo Board of Directors following the round. In January, Tigo Energy added three cleantech industry veterans to its board of advisers.

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