Prime Coalition and Investors’ Circle have backed solar startup, ConnectDER.
ConnectDER helps home solar systems easily connect to the electric grid and helps utilities manage such distributed energy inputs.
The $1.1 million investment includes nine individual investors from Investors’ Circle; Prime brought together a mix of program-related investments and grants from the Ellis Family Fund, the Will and Jada Smith Family Foundation (yes, those Smiths), and the Autodesk Foundation.
“The marriage of charitable DAFs, foundations, and corporations alongside individual investors makes a lot of sense for early-stage energy companies like ConnectDER,” said Sarah Kearney, executive director of Prime.
ConnectDER is the third investment for the nonprofit Prime, which mobilizes philanthropists to bridge the early-stage funding gap for climate-change solutions.