Solar Provider Sungevity Grabs New Capital

Brian Hicks

Written By Brian Hicks

Posted April 4, 2014

Solar equipment company Sungevity announced on Friday that it has secured $70 million in new equity financing from Jetstream Ventures, German utilities company E.ON, and GE Ventures. The company will use the funding to grow its technology platform for customer service in global markets with grid parity.

Sungevity’s main value to consumers is that it allows users to design their solar installations online, and receive an instant quote. Its approach is tailored to the app-using consumer, with ease of use and customer-friendliness the main goal.

“Sungevity’s founding mission-based values combined with their technology-focused, capital-light business model, make them an exceptional choice for our first private market investment in downstream solar,” said Joel Dobberpuhl, Chief Executive Officer of Jetstream Capital, in a prepared statement on Friday.

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