Home energy technology resiliency startup ConnectDER has secured $35 million in Series D funding.
Decarbonization Partners, a partnership between BlackRock and Temasek, led the latest round of funding. Investors MassMutual Ventures, Avista Development, Clean Energy Ventures, Energy Innovation Capital, Evergy Ventures, LG Technology Ventures, and Zoma Capital also participated.
ConnectDER’s next-generation Meter Socket Adapter (MSA), dubbed the ‘IslandDER ™’, is designed to integrate with the grid while enabling islanding of solar, battery storage, EVs, and other distributed energy resources, providing whole-home backup and resiliency.
The company will use the funding for market expansion, scaling manufacturing, and continued product innovation. The efforts will reduce consumers’ energy costs, unlock career paths, and enhance U.S. competitiveness.
ConnectDER has over 25,000 adapters in operation and plans to sell its product nationwide over the next few years.
“With this latest Series D funding we’re poised to not only expand our existing markets but also our offerings by bringing a transformative solution for energy storage systems to the market,” said Ivo Steklac, CEO of ConnectDER, in a statement. “Our forthcoming IslandDER enables homes to disconnect and reconnect from the grid enabling customers to harness stored energy from solar plus battery systems or EVs providing innovative backup power and resilience to market at an incredibly competitive cost point.”
Learn more here.