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Retail Supplier Raises $23 Million To Support Expansion, Growth
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David Energy announced today that it has secured $23 million in funding, "to transform the retail energy market and make a clean energy grid a reality."
The investment was led by Cathay Innovation, with participation from prior investors Union Square Ventures, Keyframe Capital, Equal Ventures, and BoxGroup, among others.
David Energy stated, "David Energy, named for empowering customers with distributed energy resources (DERs) to challenge today's 'Goliath' energy companies, is building the solution: a distributed network of connected devices -- think batteries, solar panels, EVs, and smart thermostats -- that can respond to the fluctuations of clean energy generation in real-time."
"This latest funding round enables the company to continue scaling both business lines [residential and commercial] in its active states and begin expanding across the Northeast and Mid-Atlantic," the company said
David Energy said that its commercial offering, an energy spend management platform for multi-unit businesses, now includes over 1,000 locations across New York, New Jersey, Massachusetts, and Texas, with customers including Equinox, Wing Stop, Subway and Orangetheory.
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September 23, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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