OnGreen, a company that aims to become the LinkedIn of the cleantech industry, announced $1.4 million in Series A funding from China Southern Hong Kong Investment Ltd.
Green start-ups use OnGreen.com to raise cleantech capital and to network with investors and other industry professionals. 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 said.
Since the Los Angeles-based company launched in July, nearly 300 entrepreneurs from more than 35 countries have posted their business plans to OnGreen, looking for community feedback and funding. Nearly 40% are from outside the U.S..
"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."
OnGreen provides investors with filtering tools to pinpoint their searches and community reviews to evaluate each opportunity. The company plans to use the new funds to develop more tools for entrepreneurs.
