Project Frog gets USD 20mln in Series D round
San Francisco, California-based Project Frog was able to raise USD 20 million for its Series D round. The round was participated in by CCM US LLC and McNally Capital. Members of the Cleantech Syndicate also joined the financing. Project Frog said it would use the proceeds to grow its pipeline. It would also be delivering a substantial number of buildings to school districts as well as healthcare providers in the country.
Project Frog manufactures ready-to-assemble building components. Some of the company's products are geared towards the education and medical buildings. However, Project Frog also develops "Flex" kits for other uses. Projects using the company's components only take half a year to finish which makes them affordable. Project Frog also said its buildings are energy-efficient.
Project Frog Chief Executive Officer Ann Hand said they were more than just a clean technology company. She said, "This is now bigger than just a clean tech play. We are at a truly differentiated cost position that warrants the capital injection to further widen the competitive gap and deliver at scale for the kind of venture returns investors are seeking."