July 31, 2024
Daylight, a decentralized physical infrastructure network (DePIN) focused on optimizing energy distribution, has successfully raised $9 million in a Series A funding round led by venture capital firm Andreessen Horowitz (a16z). Additional investors participating in the round include Framework Ventures, Lattice Fund, Escape Velocity, and Lerer Hippeau.
Founded in 2022 by industry veterans Jason Badeaux, Udit Patel, and Evan Caron, Daylight is building a decentralized protocol that empowers users to actively participate in the energy grid. By connecting their energy devices, such as thermostats, batteries, and electric vehicles, to the Daylight platform, users can earn rewards while contributing to a more efficient and resilient energy system.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Daylight | $9M | Jul 31, 2024 | Series A | $9M | A16z | Energy |
Daylight’s innovative approach involves creating a decentralized marketplace where users can upgrade their homes or buildings with energy-efficient solutions like solar panels, electric vehicle chargers, and heat pumps. Currently operational in New York, New Jersey, and Pennsylvania, the platform is poised to expand its reach to Texas and California soon.
The company's technology aggregates energy capacity from connected devices, forming a flexible resource pool accessible to energy companies. Furthermore, Daylight’s proprietary energy data can be leveraged for developing innovative applications, such as voltage monitoring to enhance electrical safety.
The $9 million investment will accelerate Daylight's development efforts, enabling the company to expand its geographic footprint, refine its platform, and explore new opportunities within the energy sector. As the world transitions towards a more sustainable and decentralized energy future, Daylight's solution positions itself as a key player in driving this transformation.
By building on the Base blockchain, Daylight aims to create a thriving ecosystem around energy capacity and data, fostering collaboration between energy companies and developers. This decentralized approach holds the potential to disrupt the traditional energy landscape and unlock new value for consumers and businesses alike.
About Daylight:
The Daylight Marketplace is the first application on the Daylight Protocol. Our platform designs, engineers, and procures the full suite of energy upgrades: solar, batteries, EV chargers, heat pumps, insulation, and hot water heaters. Our marketplace of vetted local contractors complete the installation. We’re currently active in New York, New Jersey, and Pennsylvania, with Texas and California opening soon.
Through the Daylight App, users earn rewards for connecting energy devices like thermostats, batteries, electric vehicles, and solar inverters, and engaging with the app. Users also connect custom energy meters to collect real-time, standardized energy data.
Website: https://www.daylight.world/
X Account: https://twitter.com/daylightenergy_
X Followers today: 2,251
X Followers 30 days ago: 1,716
X Follower change: 535 (31%)
About Investor
Investor: Andreessen Horowitz (aka a16z)
Description: Andreessen Horowitz (aka a16z) is a venture capital firm that backs bold entrepreneurs building the future through technology. We are stage agnostic. We invest in seed to venture to growth-stage technology companies, across AI, bio + healthcare, consumer, crypto, enterprise, fintech, games, infrastructure, and companies building toward American dynamism. a16z has $42B in assets under management across multiple funds.
Respect for the entrepreneur and the company-building process defines a16z. We know what it’s like to be in the founder’s shoes. General partners lead the firm, many of whom are former founders/operators, CEOs, or CTOs of successful technology companies, and have domain expertise ranging from data to artificial intelligence, biology to crypto, distributed systems to security, and marketplaces to financial services.
We aim to connect entrepreneurs, investors, executives, engineers, academics, industry experts, cultural geniuses, and others in the technology ecosystem. We have built a network of experts, including technical and executive talent; marketing and communications resources; Fortune 500/Global 2000 companies; cultural leaders and influencers; as well as other technology decision makers and key opinion leaders. Our network reflects a16z’s commitment to helping our portfolio companies grow their businesses, and our operating teams provide entrepreneurs with access to expertise and insights across the entire spectrum of company-building.
Location: United States
Website: https://a16z.com/
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