Daylight, a New York-based energy startup, has raised $75 million to scale its residential energy systems and develop new financial tools for decentralized power infrastructure.
According to a company blog post, the round includes $15 million in equity led by Framework Ventures and a $60 million project development facility from Turtle Hill Capital to scale home energy deployments across the country.
Daylight offers a subscription that gives homeowners access to solar, battery storage and participation in its distributed energy network without upfront costs. In addition to benefitting from backup power and more predictable energy bills, homes in its network can supply stored energy back to the grid during peak demand, generating revenue that offsets system costs.
As part of the announcement, Daylight also launched DayFi, a protocol that connects decentralized finance capital to its energy systems, allowing investors to earn returns from electricity revenue.
