Points
- Daylight raises $9 million in a Series A funding round led by A16z Crypto.
- The funding will support the development of Daylight’s decentralized energy network.
- Daylight aims to optimize energy growth through distributed energy resources.
- The project’s marketplace is active in multiple states, with more expansions planned.
Daylight, a decentralized physical infrastructure network （DePIN） project focused on energy distribution, has raised $9 million in a Series A funding round led by A16z Crypto. Other investors in the round included Framework Ventures, Lattice Fund, Escape Velocity, and Lerer Hippeau. The startup began and closed the fundraising process in just 10 days in April, according to co-founder and CEO Jason Badeaux.
Daylight was founded
in 2022 by Jason Badeaux, Udit Patel, and Evan Caron, all of whom have extensive backgrounds in the energy industry. The Series A round brings Daylight’s total funding to $13 million, having previously raised $4 million in seed funding in the summer of 2022.
Points
- Daylight secures $9 million in Series A funding led by A16z Crypto.
- The funds will support the development of Daylight’s decentralized energy network.
- Daylight aims to optimize energy growth through distributed energy resources.
- The project’s marketplace is currently active in New York, New Jersey, and Pennsylvania, with plans to expand to Texas and California.
Daylight’s mission is to tackle the growing demand for electricity with decentralized energy generation. According to the International Energy Agency （IEA）, global electricity demand is set to increase by 3.4% from 2024 through 2026, driven by the rising adoption of electric vehicles, heat pumps, and the expansion of data centers.
“The IEA estimates we need $600 billion of annual new grid investments to support net-zero and energy security targets,” said Jason Badeaux, co-founder and CEO of Daylight. He emphasized that distributed energy resources could free up critical energy capacity on existing grids without requiring trillions of dollars in new infrastructure.
Cointelegraph
Daylight’s testnet went live on July 31, enabling users to connect distributed energy devices to its mobile app and receive rewards. These devices include smart thermostats, solar inverters, batteries, electric vehicles, chargers, and energy monitors.
The protocol’s ecosystem also includes an on-chain platform for distributed energy capacity and energy data. Moreover, it has a marketplace for standardized distributed energy upgrades for homeowners and small businesses. The company’s marketplace is currently active in New York, New Jersey, and Pennsylvania, with support for Texas and California coming soon. “The electron is the most important commodity of the 21st century,” noted Daylight. “We need a new approach to meet the boom in demand while ensuring reliability.”
Daylight’s funding round also saw participation from existing investors Lerer Hippeau, Lattice Fund, and Escape Velocity. The rapid fundraising and significant interest from major investors underscore the growing importance and potential of decentralized energy solutions.
Over the past few years, energy grid operators have been exploring blockchain solutions to manage decentralized energy resources. In Europe, companies like Energy Web and Stedin are working on systems that use blockchain and decentralized identifiers for digital identities for energy assets, thus allowing customer-owned assets to balance energy grids.
Another reliable energy source tied to blockchain technology is Bitcoin miners. These miners can respond in real-time to demand spikes and power down operations quickly. This approach turns Bitcoin mining facilities into flexible energy consumers that can effectively balance supply and demand fluctuations.
解説
- Daylight’s successful Series A funding round, led by A16z Crypto, highlights the growing interest and investment in decentralized energy solutions.
- The company’s innovative approach to optimizing energy growth through distributed energy resources addresses the increasing global demand for electricity and the challenges of traditional grid expansion.
- The rapid fundraising process and support from notable investors emphasize the potential of Daylight’s technology and its impact on the energy sector.
- The integration of blockchain technology in managing decentralized energy resources demonstrates the evolving landscape of energy management and the role of digital solutions in enhancing grid reliability and efficiency.
- Daylight’s expansion plans and active marketplace in multiple states reflect its commitment to providing scalable and reliable energy solutions, contributing to the broader adoption of decentralized energy networks.