Geostellar, a US-based operator of an online marketplace for solar energy that is backed by energy company NRG Energy and satellite imaging provider GeoEye, closed $7m in new financing on Tuesday.
Investment manager Matador Capital Partners led the round, which included Select Venture Partners, Panacea Capital, Valentis Capital and undisclosed angel investors and family offices.
Founded in 2010, Geostellar operates an online platform that calculates the optimal solar equipment, installation and financing plans for each individual household, helping them to find the most affordable plan to fit their needs.
The financing will support the expansion of Solar Family, the Geostellar initiative launched last month that recruits and trains independent operatives that can promote and sell solar power in their own communities.
NRG and GeoEye participated in a $14m round in 2012 that also featured Flash Forward Ventures, which had supplied $2m for Geostellar in 2011, and the State of Maryland.