US digital utility Arcadia Power has raised $25m to back expansion across all states and the acceleration of flexible services for utilities and smart home companies. It connects renters and homeowners to renewable energy and offers smart devices, cost control and fee-free transaction options. The series B funding was led by G2VP and included ValueAct Spring Fund, McKnight Foundation, Energy Impact Partners, Cendana Capital, Wonder Ventures, Box Group and existing investors. Arcadia’s platform has links to more than 100 utilities and manages 2 TWh of annual demand. In a statement, CEO Mark McGonigal said: “Arcadia is committed to providing customers with an innovative solution that will help them save money on their electricity bills while also helping our community achieve its climate
US digital utility Arcadia Power has raised $25m to back expansion across all states and the acceleration of flexible services for utilities and smart home companies. It connects renters and homeowners to renewable energy and offers smart devices, cost control and fee-free transaction options. The series B funding was led by G2VP and included ValueAct Spring Fund, McKnight Foundation, Energy Impact Partners, Cendana Capital, Wonder Ventures, Box Group and existing investors. Arcadia’s platform has links to more than 100 utilities and manages 2 TWh of annual demand. It has also secured over 120 MW in a community solar programme.