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Solar panels and rental cars had a good funding day:
Sungevity picks up $70M to help the sun power even more homes
Solar panel provider Sungevity announced today that it has raised $70 million in a new funding round. Jetstream Ventures led the round, with additional participation from E.ON and GE Ventures. The company said it will use the funds “to extend its technology platform to service customers in the growing list of grid parity markets around the world.” GE Ventures first invested in the company in July 2013, and this latest round brings Sungevity’s total funding to $246 million. “The company’s U.S. sales doubled in 2013, fueled by proprietary remote solar design and instant quoting technology, as well as strategic business partnerships,” it said in an official statement. Sungevity is well known for using satellite technology to determine the size and placement of rooftop solar panels on customer properties, as VentureBeat previously reported.
CiteeCar picks up $10M to be Germany’s ZipCar, with a major twist
German startup CiteeCar just raised $10 million to expand its unique car sharing model. Actually, unique is an understatement. It’s pretty wild — we’ll get to why. Backed by Mangrove Capital Partners, CiteeCar combines features of a traditional car rental service (like ZipCar), with aspects of car sharing (like Lyft). CiteeCar holds a fleet of rental cars and gives them away to hosts for a year (note: hosts have to apply, and there’s high competition to be a host). The hosts get limited access to the car for free in exchange for parking the car on their property. These vehicles are then picked up by CiteeCar users for “as little as €1/hour,” the company’s press release claims. Read more on VentureBeat.