Project Solar lands $23m Series A

Left Lane Capital led the round.

  • The capital infusion will help Project Solar scale its offerings
  • Trevor Hiltbrand and Matthew Smith founded Project Solar in 2021
  • Left Lane Capital invests in high-growth internet and consumer technology companies

Project Solar, a provider of an ecommerce brand for solar installations, has raised $23 million in Series A financing. Left Lane Capital led the round.

The investment represents the first institutional capital for the company and will help it scale its digital-first, direct-to-consumer offering in additional markets. The company will also further invest in the development of its solar installation technology stack that sits across the entire solar process — from automated quoting to project management.

Trevor Hiltbrand and Matthew Smith founded Project Solar back in 2021.

“At our pricing, solar is an amazing investment for nearly every homeowner in the United States. Nationally, our customers see an average ROI of 18 percent in the first year,” CEO Hiltbrand said in a statement.

The Series A funding follows the recent announcement from President Biden about a two-year pause on panel import tariffs from Cambodia, Thailand, Malaysia and Vietnam. Federal incentives further drive down the cost of going solar with a current 2022 federal tax credit equal to 26 percent of the project cost.

Project Solar is a commission free solar sales, design, permitting and procurement company.

Left Lane Capital is a New York-based global venture capital firm investing in high-growth internet and consumer technology companies. Previous investments include GoStudent, Masterworks, M1 Finance, Tovala, FightCamp, Wayflyer and Blank Street.