PANews reported on October 16th that, according to Business Wire, Daylight Energy announced the completion of a $75 million financing round, of which $15 million in equity was led by Framework Ventures, with participation from a16z Crypto, Lerer Hippeau, M13, and others. It also secured $60 million in project financing led by Turtle Hill Capital. Daylight incentivizes households to install distributed solar and energy storage through a crypto network, with revenue coming from user subscriptions and market compensation for returning electricity to the grid during peak periods. The company launched the DayFi Income Agreement, which on-chains electricity revenue as an asset; subscriptions are currently available in Illinois and Massachusetts, with plans to expand to DeFi financing in Q4.PANews reported on October 16th that, according to Business Wire, Daylight Energy announced the completion of a $75 million financing round, of which $15 million in equity was led by Framework Ventures, with participation from a16z Crypto, Lerer Hippeau, M13, and others. It also secured $60 million in project financing led by Turtle Hill Capital. Daylight incentivizes households to install distributed solar and energy storage through a crypto network, with revenue coming from user subscriptions and market compensation for returning electricity to the grid during peak periods. The company launched the DayFi Income Agreement, which on-chains electricity revenue as an asset; subscriptions are currently available in Illinois and Massachusetts, with plans to expand to DeFi financing in Q4.
Decentralized energy network Daylight secures $75 million in funding
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PANews reported on October 16th that, according to Business Wire, Daylight Energy announced the completion of a $75 million financing round, of which $15 million in equity was led by Framework Ventures, with participation from a16z Crypto, Lerer Hippeau, M13, and others. It also secured $60 million in project financing led by Turtle Hill Capital. Daylight incentivizes households to install distributed solar and energy storage through a crypto network, with revenue coming from user subscriptions and market compensation for returning electricity to the grid during peak periods. The company launched the DayFi Income Agreement, which on-chains electricity revenue as an asset; subscriptions are currently available in Illinois and Massachusetts, with plans to expand to DeFi financing in Q4.
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