Wednesday, July 11, 2018

Okapi's Pegasus Solar Finds More Funding

Pegasus Solar, the startup developing rooftop mounting systems for solar installations which is backed by Orange County's Okapi Ventures, has raised new funding, bringing its total raised to $10M in its Series A. The company announced the additional funding on Tuesday. Pegasus Solar said the round was led by Ecosystem Integrity Fund (EIF), with participation from Okapi Capital, Howard Wenger, Mike Miskovsky, and other solar industry executives. Okapi has been an investor in Pegasus Solar since 2017. Okapi's Marc Averitt sits on the company's board. Pegasus Solar's solar mounting systems include rail-less and rail mounts for both composite and tile roofs, which it says enables enable faster, higher quality, and lower cost installations. Labor associated with the complexity of mounting solar panels is a major component of the cost of solar power installation; according to the Solar Energy Industries Association, which is addressed by more easily installed mounting systems like those from Pegasus. More information »