# Pegasus Solar

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

- Industry: Renewable Energy
- Headquarters: Richmond, US
- Website: www.pegasussolar.com
- Total disclosed funding: $13M
- Latest round: Series A (Jul 10, 2018)
- Investors on record: 2

## About

Pegasus Solar Inc. specializes in innovative solar installation solutions, offering a variety of racking systems that enhance the efficiency and reliability of solar energy setups for both residential and commercial installations.Founded in 2012 in Richmond, US, Pegasus Solar Inc. focuses on providing solar installation solutions with a range of racking systems. The company has completed 4 deals, with the most recent funding occurring on July 10, 2018, during a Series A round led by Ecosystem Integrity Fund and involving Okapi Venture Capital. The total amount raised by the company is USD 5.37 mn. The founder, Kai Hiring, also serves as the CEO and has a history in the solar industry, although no prior companies are mentioned.Pegasus Solar specializes in innovative solar installation solutions, focusing on a comprehensive range of racking systems designed to enhance the efficiency and reliability of solar energy setups. Their core products include the SkipRail rail system, InstaFlash flashings, and various mounting accessories that cater to both sloped and flat roofs, enabling installers to optimize time and labor costs. The company’s offerings are particularly relevant for residential and commercial solar installers who seek to streamline the installation process while ensuring compliance with domestic content requirements. Pegasus Solar's products are actively marketed across several geographical regions, including Florida, which is recognized for its high-velocity hurricane zones (HVHZ), as well as other states where solar energy adoption is steadily increasing.Pegasus Solar generates revenue primarily through direct sales of its solar racking systems and accessories to solar installation companies and contractors. Transactions typically occur on a B2B basis, where installers purchase products such as the SkipRail and InstaFlash systems either directly or through approved distributors. The pricing structure is aligned with industry standards, where clients may engage in bulk purchasing agreements or subscription-based arrangements for ongoing supplies of their flagship products. These sales transactions emphasize the company's commitment to providing installers with efficient and cost-effective solutions, thereby fostering long-term partnerships. The incorporation of features like the domestic content bonus tax credit further incentivizes installers to procure Pegasus Solar's offerings, enhancing their market appeal and driving revenue growth.In July 2018, Pegasus Solar Inc. raised USD 5.37 mn in Series A funding, which is intended to support the development of new solar installation products and expand its market reach. The company plans to launch additional innovative racking systems designed for emerging market demands by mid-2020. Furthermore, Pegasus Solar aims to expand its operations into new geographic regions, specifically targeting states with increasing solar adoption rates, such as California and Texas, by the end of 2020.

## Funding rounds

- Series A, Jul 10, 2018, $5.4M — Okapi Venture Capital, Ecosystem Integrity Fund
- Series A, Sep 11, 2017, $4.6M — Okapi Venture Capital, Ecosystem Integrity Fund
- Seed, Jun 30, 2015, $2.7M — Okapi Venture Capital

## Investors

- Okapi Venture Capital (https://capitalatlas.ai/funds/okapi-venture-capital) — Seed, Series A
- Ecosystem Integrity Fund (https://capitalatlas.ai/funds/ecosystem-integrity-fund) — Series A