Daylight Energy Raises $75 Million to Expand Crypto-Powered Energy Network
Daylight Energy, a decentralized physical infrastructure network (DePIN) project, has raised $75 million. The funds will help scale its crypto-powered energy network that converts homes into distributed power plants.
Funding Details and Investors
The capital raise combines equity and project development financing. Framework Ventures, a crypto venture capital firm, led the round.
- $15 million in equity funding was led by Framework Ventures.
- Other equity investors include a16z crypto, Coinbase Ventures, and Lerer Hippeau.
- $60 million was raised for project development, led by Turtle Hill Capital.
The $60 million will fund installations of home solar and battery storage systems.
Daylight’s Network and New DeFi Protocol
Daylight’s network turns homes into “mini power plants.” Families can lower energy bills, secure backup power, and earn rewards called “Sun Points” by contributing excess energy to the grid.
According to a press release, over 60% of residential solar costs come from marketing and acquisition. This delays savings for homeowners and creates financing challenges for installers. Daylight aims to speed up adoption using decentralized technology and crypto incentives.
A key part of Daylight’s growth is the launch of DayFi, a new decentralized finance (DeFi) protocol. DayFi allows investors to earn yield linked to electricity revenues from the network’s solar and storage assets.
Vance Spencer, Co-Founder of Framework Ventures, said, “We believe Daylight has a credible path to becoming the financing layer for distributed energy. As AI accelerates global power demand and energy costs rise, Daylight is uniquely positioned to connect capital to the next generation of renewable infrastructure.”
Daylight currently finances subscriptions in Massachusetts and Illinois. It works with local solar companies and direct origination. The company plans to expand DeFi-based financing in Q4.
