OnGreen, the Los Angeles-based clearinghouse for CleanTech investment, today announced a $1.4M Series A round by China Southern Hong Kong Investment Ltd. Green start-ups use OnGreen.com to raise capital and to network with investors and other industry professionals, bringing new opportunity and transparency to the traditional world of green investment. In a September survey, more than 50% of start-ups who posted their business plans on the site said they were contacted by angel or VC investors as a result.
“OnGreen is like LinkedIn for the Green Economy,” said CEO Nikhil R. Jain, “except we don’t just connect people with people, we connect ideas with money.”
Since OnGreen launched in July, nearly 300 entrepreneurs from more than 35 countries have posted their business plans, looking for community feedback and funding. Nearly 40% are from outside the U.S, but domestic entrepreneurs are also finding OnGreen to be the direct path to potential investors.
Since OnGreen launched in July, nearly 300 entrepreneurs from more than 35 countries have posted their business plans, looking for community feedback and funding. Nearly 40% are from outside the U.S, but domestic entrepreneurs are also finding OnGreen to be the direct path to potential investors.
"OnGreen has been an excellent source of contacting potential investors and partners in the CleanTech arena on a worldwide basis,” said Jay Moskowitz, Founder of SPD Control Systems Corp., whose firm makes Dynamic Windows that conserve energy in buildings and vehicles. “We have received inquiries from around the planet. Many of these leads have established relationships that will run well into the future."
Angel investors and venture capitals are seeking access to opportunities outside the normal channels of Clean Tech investment. OnGreen provides them with filtering tools to pinpoint their search and community reviews to evaluate each opportunity.
“OnGreen provides an exciting platform to find deals in a wide range of CleanTech industries. Just as important, is their easy to use functionality in finding specific industry experts who can analyze the opportunities we are evaluating” said Peter Cowen, whose firm, Groundwork Equity, specializes in taking start-ups from idea to market.
OnGreen will use the new funds to develop more tools to help entrepreneurs raise money and go to market.
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