# Morgan Solar funding: rounds and investors > Morgan Solar has raised $48M across 5 rounds since 2009. Investors include Enbridge, Iberdrola and Arctern Ventures. Every round with its source. Source: https://millionrounds.com/company/morgan-solar (Millionrounds; every figure on the page links to its filing or article) Canada · [Series B startup](https://millionrounds.com/companies) # Who invested in *Morgan Solar* 5 rounds we have observed, with the 6 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Cleantech Funding summary Updated 26 Oct 2026 **$48M** raised across 5 rounds since 2009, from 5 sources **$1.2M** Venture **$8.2M** Series A **$19M** Series B **$9.8M** Series B **$10M** Round - **Latest round:** Round, $10M Jul 2016 - **Led by:** Arctern Ventures - **Biggest round:** $19M Series B · May 2011 - **Investors:** 6 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2010 2011 2012 2013 2014 2015 2016 **$1.2M** Venture **$8.2M** Series A **$19M** Series B **$9.8M** Series B **$10M** Round - **First round:** Venture, $1.2M - **Biggest round:** $19M - **Usual gap between rounds:** 17 months ## The rounds - **Jul 2016** Round **$10M** *2 new* *2 returning* [Arctern Ventures](https://millionrounds.com/fund/arctern-ventures) Lead [Enbridge](https://millionrounds.com/fund/enbridge) [Iberdrola](https://millionrounds.com/fund/iberdrola) [Kuwaiti Investment Authority](https://millionrounds.com/fund/kuwaiti-investment-authority) Reported by BetaKit: funding - **Nov 2011** Series B **$9.8M** *1 new* [Enbridge](https://millionrounds.com/fund/enbridge) Reported by fis.dowjones.com - **May 2011** Series B **$19M** No investor was named in the report. Reported by venturebeat.com SEC filing: $5.5M sold, first sale May 2011 - **Jan 2010** Series A **$8.2M** *3 new* [Iberdrola](https://millionrounds.com/fund/iberdrola) [Turnstone Capital Management](https://millionrounds.com/fund/turnstone-capital-management-llc) [Nypro](https://millionrounds.com/fund/nypro) Reported by finsmes.com SEC filing: $200K sold, first sale Dec 2009 - **Oct 2009** Venture **$1.2M** No investor was named in the report. From a historical funding record SEC filing: $1.2M sold, first sale Sept 2009 ## Founders and team From Morgan Solar's own website: 6 on the team. - **John Paul Morgan** President & CTO - **Eric Morgan** Executive Vice President, Sales & Operations - **Nicolas Morgan** Vice President, Business Development and Marketing - **Mike Andrade** CEO - **Hugo Navarro** COO, Finance and Corporate Services - **Dr. Allan Tameshtit** Director of Intellectual Property ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Venture** 2009 **Series A** 2010 **Series B** 2011 **Series B** 2011 **Round** 2016 [Enbridge](https://millionrounds.com/fund/enbridge) [Iberdrola](https://millionrounds.com/fund/iberdrola) [Arctern Ventures](https://millionrounds.com/fund/arctern-ventures) L [Turnstone Capital Management](https://millionrounds.com/fund/turnstone-capital-management-llc) [Kuwaiti Investment Authority](https://millionrounds.com/fund/kuwaiti-investment-authority) [Nypro](https://millionrounds.com/fund/nypro) ## Everyone who backed them [Enbridge](https://millionrounds.com/fund/enbridge) VC firm **2** rounds [Iberdrola](https://millionrounds.com/fund/iberdrola) Growth equity **2** rounds [Arctern Ventures](https://millionrounds.com/fund/arctern-ventures) VC firm **1** round, led 1 [Turnstone Capital Management](https://millionrounds.com/fund/turnstone-capital-management-llc) Private equity **1** round [Kuwaiti Investment Authority](https://millionrounds.com/fund/kuwaiti-investment-authority) Investment firm **1** round [Nypro](https://millionrounds.com/fund/nypro) Corporate VC **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=morgan-solar). ## Also claim to have backed them This firm lists Morgan Solar as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above. [Pyfera Growth Capital](https://millionrounds.com/fund/pyfera-growth-capital) Family office Per its own site ## Quick answers about Morgan Solar ### Who invested in Morgan Solar? Morgan Solar's investors include Enbridge, Iberdrola, Arctern Ventures, Turnstone Capital Management and Kuwaiti Investment Authority, and 1 more on record. Arctern Ventures led its latest round. ### How much has Morgan Solar raised? Morgan Solar has raised $48M across 5 rounds since 2009. ### When did Morgan Solar last raise? Morgan Solar's most recent round, $10M, was in Jul 2016, led by Arctern Ventures. ### What was Morgan Solar's biggest round? Morgan Solar's largest round on record is $19M (Series B), in May 2011. ### Who backed Morgan Solar first? Morgan Solar's first round on record, in Jan 2010, was backed by Iberdrola, Turnstone Capital Management and Nypro. ### What stage is Morgan Solar at? Morgan Solar's latest named round is a Series B, in Nov 2011. ### Where is Morgan Solar based? Morgan Solar is based in Canada. ### Who led Morgan Solar's rounds? Arctern Ventures led the funding round in 2016. ## Companies like Morgan Solar In the same sector, and raised in the last eighteen months. 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