Overview
- Daylight secured $15 million in equity led by Framework Ventures and a $60 million non-recourse project finance facility led by Turtle Hill Capital.
- Investors in the equity round include a16z Crypto, Coinbase Ventures, Lerer Hippeau, M13, Room40 Ventures, EV3, Crucible Capital, and Not Boring Capital.
- DayFi, the newly announced protocol, is designed to let onchain investors earn yield directly from electricity revenues generated by Daylight’s solar and storage assets.
- The company’s network connects home devices such as solar inverters, batteries, EVs, and thermostats to provide grid services and reward participants.
- Daylight is piloting deployments in Illinois and Massachusetts and says it will introduce DeFi-based financing and additional rollouts in the coming quarters.