ConnectDER, an early-stage company developing a meter collar that enables residential solar to connect to the grid cheaply, safely, and rapidly, has closed its $1.1M Series A round with support from a first-of-a-kind investment collaboration between Investors’ Circle (IC) and PRIME Coalition. Nine individual IC investors were
joined by three parties from the PRIME Coalition in the financing: the Ellis Family Fund at The Boston Foundation, the Will and Jada Smith Family Foundation, and the Autodesk Foundation at the Silicon Valley Community Foundation.
ConnectDER marks the third proof-of-concept investment for PRIME Coalition, a nonprofit that empowers philanthropists to place charitable capital into market-based solutions to climate change. After PRIME’s year-long diligence process selected ConnectDER as one of the most promising early-stage companies whose core business model reduces global greenhouse gas emissions, PRIME referred the company to Investors’ Circle, the world’s largest and most active early-stage impact investing network. Leveraging the due diligence conducted by PRIME’s industry experts, IC members were able to move quickly and
help top off the round.
Leigh Wood, a Philadelphia-based IC member, shared that she was compelled to participate because