# Morgan Solar

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/morgan-solar

- Industry: Renewable Energy
- Headquarters: Toronto, Canada
- Website: www.morgansolar.com
- Total disclosed funding: $8.2M
- Latest round: Series A (Jan 6, 2010)
- Investors on record: 3

## About

Morgan Solar Inc. is a Canadian company specializing in innovative solar energy solutions that enhance the efficiency and effectiveness of photovoltaic systems for commercial and residential markets.Morgan Solar Inc., founded in 2007 and headquartered in Toronto, Canada, focuses on advanced solar technologies. The company has participated in 9 funding deals, with its latest round being a Venture Debt of CAD 6.000 mn on March 31, 2022, led by BDC Capital and participating investors including ArcTern Ventures and Kuwait Investment Authority. Mike Andrade is the CEO of the company.Morgan Solar specializes in advanced solar energy solutions, focusing on innovative technologies such as the PV DeepSweep diagnostics system and SPOTlight photovoltaic technology, which leverage Internet of Things (IoT) capabilities. These innovations enhance performance forecasting of photovoltaic systems while addressing critical issues in solar asset optimization. Morgan Solar also offers net-zero building solutions that integrate solar energy into urban infrastructures, targeting markets in Canada, the United States, and other global urban areas.Morgan Solar's revenue model relies on B2B partnerships, with direct sales and collaborations aimed at optimizing solar assets. Revenue is generated through the sale of diagnostic systems, solar technologies, and consulting services related to net-zero building integration, with specific pricing plans tailored to client needs.Following the recent CAD 6.000 mn funding round in March 2022, Morgan Solar plans to accelerate its urban market expansion with its SPOTlight and SunStudio product offerings. The company is focused on launching new products and enhancing its presence in targeted geographical regions, leveraging the recent capital to support these initiatives.

## Funding rounds

- Series A, Jan 6, 2010, $3.5M — Nypro Chihuahua S. De R.L. C.V., Iberdrola SA, Turnstone Capital
- Series A, Oct 8, 2009, $4.7M — Nypro Chihuahua S. De R.L. C.V., Iberdrola SA, Turnstone Capital

## Investors

- Nypro Chihuahua S. De R.L. C.V. — Series A
- Iberdrola SA — Series A
- Turnstone Capital (https://capitalatlas.ai/funds/turnstone-capital) — Series A