What is Tigo?
Headquartered in Campbell, California, Tigo Energy specializes in providing advanced products, technologies, software, and services tailored for installers, distributors, and original equipment manufacturers within the photovoltaic sector. Founded in 2007, the company is recognized for its pioneering work in module-level power optimizers and smart module power electronics, having developed the first-generation Smart Module Optimizer technology. Tigo operates globally, with a presence across the United States, Europe, Latin America, Japan, China, Australia, and the Middle East, positioning itself as a key enabler of solar energy solutions worldwide.
How much funding has Tigo raised?
Tigo has raised a total of $150.3M across 16 funding rounds:
Private Equity
$13.1M
Private Equity
$6.5M
Debt
$1.9M
Debt
$1.4M
Private Equity
$3.5M
Debt
$1.5M
Debt
$4M
Debt
$350K
Private Equity
$20M
Debt
$901K
Debt
$50M
Private Equity (2013): $13.1M, investors not publicly disclosed
Private Equity (2013): $6.5M led by Generation Investment Management, LLP
Debt (2014): $1.9M, investors not publicly disclosed
Debt (2014): $1.4M featuring Generation Investment Management
Private Equity (2015): $3.5M, investors not publicly disclosed
Debt (2015): $1.5M, investors not publicly disclosed
Debt (2016): $4M, investors not publicly disclosed
Debt (2020): $350K supported by PPP
Private Equity (2021): $20M featuring Energy Growth Momentum LLP
Debt (2021): $901K backed by PPP
Debt (2023): $50M with participation from Letterone Holdings
Key Investors in Tigo
Letterone Holdings
Founded in 2013, LetterOne is a partnership of successful entrepreneurs and CEOs focused on active investment in sectors critical to society's sustainable prosperity, including energy, technology, health, and retail. The company operates through four main business units: L1 Energy, L1 Technology, L1 Health, and L1 Retail, employing a long-term investment strategy. With over 20 billion in patient capital, LetterOne aims to build and grow businesses that deliver lasting value to investors and society, while also supporting over 125,000 jobs. Their approach emphasizes strong governance and adapting to social and environmental changes.
Generation Investment Management, LLP
Generation Foundation collaborates with grant partners to foster a low-carbon, prosperous, and equitable society through strategic research, grant-making, and advocacy. The organization aims to mobilize businesses and investors to address climate change, inequality, and environmental degradation. They focus on unlocking the potential of capital markets to create a sustainable economic system. Their intended clients include businesses and organizations seeking to implement sustainable practices and achieve the Sustainable Development Goals.
Bessemer Venture Partners
Bessemer Venture Partners (Bessemer) is a venture capital firm. The firm has offices in San Francisco, Redwood City, New York City, Boston, Israel, and India. It was established in 1911 as Bessemer Securities. It's headquarters is at Menlo Park, California, US.
What's next for Tigo?
The recent major strategic investment signals Tigo's robust trajectory and its commitment to advancing solar energy technology. With a history of securing substantial capital, including significant debt and private equity rounds, Tigo is well-positioned to leverage this latest financing for product development, market penetration, and operational scaling. The company's focus on module-level power optimization aligns with the growing demand for efficient and intelligent solar energy systems, suggesting a future centered on enhancing solar performance and reliability.
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