San Mateo, Calif.-based Tioga Energy Inc., a renewable energy services provider granting access to clean, commercial-grade power for organizations and industry, has completed its initial funding round with participation from Nth Power, a venture capital company. The more than $4 million dollars contributed by that group brings the total amount of first-round funding raised by Tioga Energy to more than $14 million.
Previous contributors to Tioga Energy's A-round of funding included venture capital groups NGEN Partners, Draper Fisher Jurvetson and RockPort Capital, with supporting finance sourced from DFJ Frontier and Kirlan Ventures.
‘We are very excited to participate in the funding of Tioga Energy,’ says Tim Woodward, a managing director at Nth Power. ‘We see rapid growth in the PPA model to service the commercial and industrial customers for solar photovoltaic systems. Tioga's management team is world class in their ability to execute on this opportunity, and with a strong balance sheet they should be able to grow fast and become one of the leaders in the sector.’