Overview
- Lunar closed a previously unannounced $130 million Series C led by Activate Capital and a $102 million Series D led by B Capital and Prelude Ventures, for a total of $232 million.
- The company plans to ramp manufacturing to about 20,000 units in 2026 and target 100,000 units by the end of 2028, with products designed in California and assembled in Georgia and Washington.
- Lunar reports roughly 2,000 home installations and nearly 2 GWh aggregated into virtual power plants to date, with VPP participants earning an average of $464 per year.
- Expansion plans include new markets such as Texas, Puerto Rico, and Hawaii, as the firm advances its Lunar System hardware and Gridshare VPP software.
- The funding comes as the U.S. added an estimated 4.9 GWh of home storage in 2025 and as competitors like Tesla and Base Power scale, while policy rules on foreign-sourced materials and potential tariffs pose supply-chain risks; total capital raised by Lunar now exceeds $530 million.