Northwest Energy Angels Key to Fledge’s Series A

Angel group raises more than two thirds of first round of funding

SEATTLE (April 25, 2013) Seattle-based Northwest Energy Angels (NWEA), a group of angel investors focused on funding early stage clean technology companies helped Fledge, the “conscious company” incubator raise $307,000 in its Series A round of funding. NWEA members raised $216,000 of the total, contributing $141,000 in the current round on top of $75,000 invested in 2012.

“Consumers are increasingly conscious in their consumption of the environment, their health, society, and community,” said Michael “Luni” Libes, founder and managing director of Fledge. “Fledge offers a program where entrepreneurs can develop their business ideas that specifically target an unmet need for these educated and aware consumers. We are fortunate to have a strong group of angel investors, like the Northwest Energy Angels, interested in the potential of Fledge and its ability to shape a new and different kind of entrepreneur.”

Entrepreneurs interested getting their startup off the ground may apply to the program. Fledge then selects 7-10 applicants, or “fledglings”, per cohort. The teams spend 10 weeks co-located in HUB Seattle, where they receive entrepreneurial education and advice from a group of volunteer advisors and mentors. At the end of their term, the teams participate in a “Demo Day” where they share their visions and pitch their plans to potential investors, potential customers, and supporters.

“Fledge is an excellent complement to the work we do as angel investors in helping young companies advance their growth trajectories,” said David Bangs, who led participation by the Northwest Energy Angels. “The more counsel and guidance that leaders of early stage companies can receive from experienced mentors, the better off their long term prospects for funding and commercial success will be. Fledge is filling this much needed role among emerging ‘conscious companies’ seeking to bring world-changing ideas to scale.”

Fledge is a Certified B Corporation as it exists to benefit both society and shareholders. Fledge’s current group of “fledglings” will complete its training at the upcoming “Demo Day” on April 25th. This event is open to the public. Tickets are available at http://fledge.co/demo-day.

About Fledge
Founded in 2011, Fledge is a “conscious company” incubator, addressing an enormous opportunity for the large and growing number of consumers who are increasingly: environmentally conscious, energy conscious, health conscious, conscious of sustainability, of community, and even conscious of consumption itself. Fledge incubates and accelerates startup entrepreneurs addressing these needs. More information available via the web at: http://fledge.co/

About Northwest Energy Angels
Northwest Energy Angels, founded in 2006, is the first angel investment group in North America to focus exclusively on the cleantech industry, and continues to be a leading funder of early stage clean tech companies across the country. A non-profit organization, Northwest Energy Angels helps create successful cleantech companies by connecting promising entrepreneurs with experienced cleantech investors. Northwest Energy Angel members add value to the companies they invest in and act as a bridge to institutional investors. To date, members have invested more than $10 million in 39 companies in Washington, Oregon, California, Colorado, Maryland, Washington, D.C. and British Columbia, Canada. More information is available via the web at: www.nwenergyangels.com.

Media Contacts
Northwest Energy Angels
John Williams, Scoville PR
206-625-0075 x1, jwilliams@scovillepr.com

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