Tigo Energy raises $20 million in funding

CAMPBELL, California, Jan 18, (Agencies): Tigo Energy, Inc, the worldwide leader in Flex-MLPE (Module Level Power Electronics) announced a $20 million round of investment, led by Energy Growth Momentum.

“2020 has been a breakout year for Tigo and 2021 has the potential for even greater success,” stated Zvi Alon, Chairman and CEO of Tigo. “We are excited to have the EG Momentum team’s support and their working capital will enable us to better serve our current customer base and invest in the future expansion with new customers, new partners and new projects.”

The investment will be used to improve upon existing products and develop next generation solutions that maximize returns for PV customers. A portion of the new funds will be used to efficiently and effectively scale. Tigo’s growth has accelerated significantly recently as the company’s products have reached more customer segments and countries throughout the world. With over 40,000 installations in over 100 countries on all 7 continents, Tigo systems generate more than 1 GWh of daily solar production. Tigo’s solutions are deployed in solar energy generators ranging from single kilowatt residential solar installations to multi-megawatt utility scale sites, roof-top, ground mount and floating systems.

Tigo will continue to invest in the personnel, systems and business process improvement to market and support this breadth of customers.