Daylight Secures $75 Million to Transform Energy Distribution with Blockchain
Overview of the Funding Round
Daylight Energy has successfully raised $75 million in a funding round led by Framework Ventures. This capital consists of $15 million in equity and $60 million in “non-recourse project finance capital,” a type of loan to be repaid through earnings.
Utilization of Funds
The new capital will support Daylight’s mission as a decentralized physical infrastructure network (DePIN) focused on revolutionizing energy distribution. The company’s notable achievements and projects are paving the way for integrating advanced blockchain solutions into energy systems.
Investor Engagement
Framework Ventures has spearheaded the $15 million equity portion, with participation from prominent investors such as A16z crypto, Lerer Hippeau, and Coinbase Ventures. The project finance aspect was mainly led by Turtle Hill Capital, positioning Daylight firmly within the competitive landscape of energy innovation.
What is DePIN?
DePIN represents the intersection of blockchain technology and physical infrastructure, facilitating a decentralized control structure. With a focus on energy, Daylight allows users to connect their energy devices—such as thermostats, batteries, and solar inverters—through its app and earn rewards, thereby fostering greater crypto adoption in the energy sector.
CEO Insights
Jason Badeaux, CEO of Daylight, emphasizes the importance of incentivizing behavior change to adopt distributed energy. “Crypto uniquely enables us to align incentives, reduce costs, and establish a transparent system that benefits all participants,” he states.
Future Innovations: Introducing DayFi
In addition to its core offerings, Daylight is launching DayFi, a new yield protocol that integrates energy infrastructure with decentralized finance. This platform will allow investors to earn yields directly tied to electricity revenues generated by Daylight’s expanding portfolio of solar and storage systems.
Conclusion
As Daylight continues to innovate in the energy sector, its efforts underscore the growing synergy between cryptocurrency payments and decentralized infrastructure. With the support of major investors and a clear vision for the future, Daylight is poised to enhance crypto adoption while transforming energy distribution for businesses and individual users alike.