Sustainable builder Project Frog leaps ahead with new $4M
Sustainable building developer Project Frog has raised $4 million in the first tranche of a second round of funding led by Rockport Capital Partners. The total goal for the round is $8.6 million, which will go toward supplying schools with materials for energy-efficient classroom modulars.
The San Francisco-based company, a spinoff of environmental architecture firm MKThink, charges about $150,000 to $200,000 per classroom, and offers schools the option of installing solar panels to save even more energy, reports Alarm:Clock. But the demand is there, with a climbing number of college and high school students attending class in portable trailers (about 3 million currently).
While details on the initiative’s first round of funding are undisclosed, Rockport has a long track record of funding other sustainable projects. The firm just led a $37 million round for Wind Power Holdings. It also partnered with Shasta Ventures to deliver $6 million in first-round funding to Sustainable Spaces, another S.F.-headquartered building company, and again very recently with GE Energy Financial Services to fund photovoltaic manufacturer Soliant Energy.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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