# GroSolar

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/grosolar

- Industry: Power & Utilities
- Headquarters: US
- Website: http://www.grosolar.com
- Total disclosed funding: $12M
- Latest round: Series B (Dec 6, 2007)
- Investors on record: 4

## About

GroSolar is a renewable energy company specializing in solar energy products and services, offering innovative solutions aimed at enhancing energy independence for various clients.Founded in 1998, GroSolar focuses on renewable energy solutions, specifically solar energy. The company has undergone significant changes, including its acquisition of groSolar Residential Business by SolarCity in February 2011 and its acquisition by EDF Renewable Energy in April 2016. The company is headquartered in the US and has executed 4 deals to date, with its most recent funding round being a Series B which raised USD 10.00 mn, led by NGP Energy Technology Partners.GroSolar specializes in providing innovative renewable energy solutions, primarily focusing on solar energy products and services. Their core offerings include high-efficiency solar panels, solar inverters, and integrated energy storage solutions designed to enhance energy independence for residential, commercial, and industrial clients. These products aim to address the growing demand for sustainable energy solutions while contributing to the reduction of greenhouse gas emissions. The company serves a diverse clientele, including homeowners seeking to lower their utility costs, businesses aiming to achieve sustainability goals, and utilities looking to enhance their renewable energy portfolios. GroSolar markets its products in North America, Europe, and parts of Asia, ensuring that their solutions are accessible to a wide range of customers seeking reliable and efficient solar technology.GroSolar's revenue model is predominantly based on direct sales of its solar products, complemented by installation and maintenance services, establishing a comprehensive approach to customer engagement. Transactions typically involve direct-to-consumer sales as well as partnerships with contractors and retailers who facilitate the installation process for end-users. Clients can engage with GroSolar through various purchasing options, including outright purchase of products or service contracts that provide ongoing support and maintenance. The pricing structure for their flagship solar products is tailored to accommodate various customer needs, ensuring affordability and accessibility. Furthermore, the company’s revenue is bolstered by long-term service agreements, fostering ongoing relationships with customers while providing them with reliable and efficient solar energy solutions.GroSolar plans to expand its offerings with new innovative solar products aimed at enhancing energy efficiency, although specific release dates have not been disclosed. The company is targeting market expansion into additional regions across Asia by 2025. Recent funding from the Series B round will be utilized to support these initiatives, focusing on product development and market entry strategies. GroSolar's recent acquisition by EDF Renewable Energy will also provide additional resources for growth and development.

## Funding rounds

- Series B, Dec 6, 2007, $10M — SJF Ventures, NGP Energy Technology Partners, ALLCO Renewable Energy Group, Calvert Social Investment Fund
- Series A, Oct 4, 2006, $2.3M — SJF Ventures, ALLCO Renewable Energy Group, Calvert Social Investment Fund

## Investors

- SJF Ventures (https://capitalatlas.ai/funds/sjf-ventures) — Series A, Series B
- ALLCO Renewable Energy Group — Series A, Series B
- Calvert Social Investment Fund — Series A, Series B
- NGP Energy Technology Partners (https://capitalatlas.ai/funds/ngp-energy-technology-partners) — Series B