House of GreenTech LLC, a Stockholm, Sweden-based trading house for green technology and clean energy products and solutions, has secured SEK 5m (approximately US$ 714,000) from undisclosed Swedish investors.
This latest investment adds to its seed capital, for a total of $1.1m in funding.
The capital infusion will enable the company – which started its U.S. operations in Baltimore, Maryland, on January 1, 2010 – to quickly build-up and expand in the U.S. market.
House of GreenTech will rely on its parent company, Swedish contract sales organization SALESGEN, to line up suppliers of Scandinavian green technology products for sale in North America.
In conjunction with the funding, the company has appointed entrepreneur and business leader Katarina Bonde to serve as its Chairman of the Board, joining SALESGEN president Anders Torelm, House of GreenTech president Peter Selemark, former U.S. Ambassador to Sweden Thomas L. Siebert and Par Arvidsson, IT entrepreneur.
House of GreenTech’s goal is to reach $70m in revenues by 2015.