ThinkEco, a start-up developing products to help consumers conserve energy and save money on electricity costs, has raised $5.36 million in capital, according to a recent regulatory filing. Fourteen separate investors participated in the offering.

ThinkEco, Inc. develops easy-to-use energy efficiency products for homes and businesses, and easy-to-integrate solutions for channel partners. The company's patent-pending modlet (for "modern outlet") features intelligent engineering and algorithms to provide a simple, low-cost and installation-free method for saving money and energy on electronic appliances. The modlet has received multiple awards and was recently featured on the Martha Stewart Show, the Today Show and the Early Show.

According to published reports, the company's board includes Lewis Katz, an owner of the New Jersey Nets; and Eric Aroesty, co-founder of Affinity Direct.