Solar startup Tigo Energy announced today it has raised $6 million for its solar optimization business (hat tip peHub). The startup, headquartered in Los Gatos, Calif., says it is making its own hardware, software and web-based applications, that are designed to boost the reliability and output of new and existing residential and commercial solar systems. The company is marketing its products to energy service providers, panel manufacturers and system integrators. The Series A round was co-led by Matrix Partners and OVP Venture Partners.
We like the idea, as it might mean the solar supply chain is getting long enough for more niche players. It’s also an example of yet another solar company tapping into broadband-based technology to make solar systems more effective. Fat Spaniel has built a business off of monitoring, managing and controlling solar systems via the Internet. Sungevity is a startup that plans on selling solar with its Web 2.0 tools. We chatted briefly with Ron Hadar, Tigo’s President and COO, who said he’d give us more details on the company later this week.
Both Hadar and his co-founder, Sam Arditi, could have places on our list of those who ditched infotech for cleantech. Hadar got his start in semiconductors working at Applied Materials then as CEO of Tenta Technology and most recently at MKS Instruments. Arditi, Tigo’s CEO, led a wireless and satellite systems company through an acquisition by Intel, where he then worked as VP and general manager for the cellular and handheld group.