It’s not everyday you get a funding network dedicated solely to one vertical, but a Colorado startup is introducing exactly that for energy technology projects. Wunder Capital announced Tuesday morning it raised $3.6 million from a collection of investors in order to fund major solar power projects in the United States with the promise they were scaling their business beyond solar.
The idea of getting solar-specific crowdfunding platform is actually not new (Swedish startup Trine runs one in the Nordics), but energy is clearly a large market that might have banked the young company its Series A. The round was led by Techstars Ventures, Fenway Summer (Washington D.C.) and the Fintech Collective.
“This syndicate allows us access into the largest entrepreneurial network in the world,” Wunder co-founder and CEO Bryan Birsic said in a press release, “and it brings us incredibly deep expertise and connections in the financial technology market. Our mission to become the largest provider of solar financing in the U.S. will benefit greatly.”
Denver-Boulder makes bold moves on the global startup stage
Boulder, together with Denver, is considered one of the world’s up-and-coming unified startup ecosystems. They were rated among the top 30 startup hubs in the world by Startup Compass in 2015 alongside Atlanta, Philadelphia, Delhi, Hong Kong, Dublin, Waterloo-Kitchener, Mumbai and Stockholm.
Wunder and Techstars are no strangers. Wunder graduated the latter’s accelerator in 2014. Since then they have won the U.S. Department of Energy’s 2014 Sunshot Challenge, the COSEIA’s 2015 Summit Award and added a number of distributors, developers and installers to its network to who might be targets of solar-powered tech investments through minimum $1,000 investments in either one of its two funds: the Wunder Income Fund (6% expected returns) or the Wunder Bridge Fund (11% expected returns).
“Wunder Capital is tapping into an incredible opportunity by blending fintech with the exploding solar market,” said Jason Seats of Techstars Ventures in a statement. “We are excited to support them in growing their company.”
Wunder Capital was founded in 2013 by CEO Bryan Birsic, CTO Dave Riess and Head of Product Sam Beaudin.