Solar connection start-up ConnectDER raises USD 1.1m

ConnectDER, a US start-up developing a meter collar for home solar connection, has raised USD 1.1 million (EUR 1.04m) in a Series A round from Investors' Circle (IC) and Prime Coalition.

Prime Coalition is a non-profit that helps philanthropic foundations and families to support new ventures that could cut greenhouse gas emissions and IC is an early-stage impact investing network. Three parties from the Prime Coalition and nine IC investors took part in the financing, announced on Wednesday by Prime Coalition.

According to the statement, ConnectDER's meter collar enables a fast and cheap connection of residential solar to the grid, while providing electric utilities with real-time management over distributed energy assets. The company's product creates a connection point to a collar that installs between a residential electric meter and a meter socket.

(USD 1.0 = EUR 0.945)

Choose your newsletter by Renewables Now. Join for free!