“Entrepreneurs post deals, or standardized summaries of their business plans and funding needs to OnGreen. More than 250 deals have been posted from 30 countries, with around 30% of those hailing from outside of the U.S. so far. [Desirable teams] are contacted by investors as a result of posting, and according to our September survey half of those who posted were contacted by potential investors. But entrepreneurs can also use the site to get feedback on their business plans and to network in what is a somewhat fragmented industry.”

According to Jain, OnGreen will use the series A capital to launch a Chinese version of its site, build its presence in China and India during the next year, and to launch a patent exchange in coming weeks (Nov. 16, 2010) a collaboration with the University of Southern California Energy Institute.

Currently, OnGreen plans to generate revenue through advertising, lead generation, events, custom clean tech and green industry research, and other sources. The company is on target to become profitable by the end of 2011, Jain says.

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Authors: Lora Kolodny

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