Deb. 18, 2008 – Israeli company Pythagoras Solar, claiming to have a play in the photovoltaic sector, says it has completed a $10M round of Series A funding, led by led by Israel Cleantech Ventures and joined by Pitango Venture Capital and Evergreen Venture Partners. Funds will be used for domestic R&D and global commercialization of its technology and products, which the firm boasts “have the potential to change the economics of solar power.”
Pythagoras was founded in 2006 by former Check Point Software exec Gonen Fink and Tel Aviv U.’s Itay Baruchi, and has been incubated in investment firm Precede Technologies. According to that firm’s Web site it offers “static low concentration photo-voltaic systems.” More cryptically, Pythagoras’ own site describes its work as combining “software models, optic design, semiconductor processes, materials science, and mass manufacturing techniques to build highly durable, cost effective solar energy products.” It has an R&D center in Hakfar Hayarok, Israel and a US office in San Mateo, CA. The company says it will disclose more about its products and technologies by early 2009.