SAN FRANCISCO, July 10, 2018 /PRNewswire/ — Pegasus Solar, a leading designer and manufacturer of innovative rooftop mounting systems for solar installations, announced today that it has raised additional funding, reaching $10 million under its Series A round of equity financing. The round was led by Ecosystem Integrity Fund (“EIF”), with participation from Okapi Capital, Howard Wenger, Mike Miskovsky, and other solar industry executives.
“We are excited to expand our partnership with EIF and other investors who are enthusiastic about our mission to accelerate the adoption of rooftop solar,” said Kai Stephan, Chief Executive Officer of Pegasus. “We continue to develop the market leading suite of products for residential solar and the funding will accelerate our growth.”
“Pegasus is the leader in mounting hardware innovation, delivering greater ease of installation and lower costs to installers on most residential roof types,” said James Everett, Partner at EIF, where he leads the investment team. “We believe the company will become the new standard in solar mounting products, and EIF is proud to be involved.”
EIF made its investment out of its EIF Fund III.
About Pegasus Solar
Pegasus Solar designs and manufactures innovative rooftop mounting systems for solar installations. The company’s complete line of rail-less and rail mounts for both composite and tile roofs help enable faster, higher quality, and lower cost installations. www.pegasussolar.com
About Ecosystem Integrity Fund
Ecosystem Integrity Fund (“EIF”) is a sustainability-focused venture capital fund, targeting sectors including renewable energy, green chemistry and resource efficiency. EIF takes a systems-based approach to sustainability investment, primarily investing in capital-efficient opportunities. EIF seeks out market niches that have not received the investor attention they deserve, resulting in better investment opportunities and greater impact with less capital. For more information, visit www.ecosystemintegrity.com.
About Okapi Capital
Okapi provides long-term capital and management support to start-ups. Okapi takes pride in partnering with exceptionally talented entrepreneurs and operational executives to develop their emerging businesses. Okapi currently manages three funds and invests in seed and early-stage technology and healthcare IT companies along the Tech Coast that is southern California. www.okapivc.com
SOURCE Pegasus Solar