Daylight Secures $75 Million for Decentralized Solar Expansion

TLDR

• Daylight raised $75 million to expand its solar network.
• Investors include Framework Ventures and Coinbase Ventures.
• Project aims to democratize access to clean energy.

Daylight, a project pioneering decentralized solar energy, has secured $75 million in a major funding round. The round was led by Framework Ventures, with contributions from other notable investors such as a16z Crypto, Coinbase Ventures, and more. This funding consists of both equity and loan elements, aimed at expanding Daylight’s decentralized solar network in the United States.

Founded in 2022, originally under the name React Network, Daylight is creating a protocol that connects users’ energy devices, allowing them to earn rewards. The project envisions subscription-based solar energy access through a distributed network.

Investor Participation and Background

The funding round involved participation from an array of investors, including Lerer Hippeau, M13, Room40 Ventures, EV3, Turtle Hill Capital, Crucible Capital, Not Boring Capital. This diverse backing underscores growing confidence in Daylight’s potential to revolutionize decentralized energy access.

Daylight’s previous fundraising efforts include a $4.2 million seed round in November 2022 and a $9 million Series A in July 2024. Core team and founder details remain undisclosed, but the backing of reputable investors like CoinShares and Digital Currency Group suggests strong industry connections.

Vision and Strategic Plans

According to BusinessWire, Daylight’s official statement highlights its aspiration: “Daylight is building the largest decentralized solar network to democratize access to clean energy.” The objective is to provide an inclusive platform for anyone to participate in the emerging energy economy.

While no direct Twitter or LinkedIn comments exist from Daylight’s executives, all key announcements are primarily channeled through their website and official press releases. Upcoming projects include expanding solar coverage, deploying hardware, and further product rollouts in the U.S. This involves rewarding contributors with “sun points,” with plans to introduce tokens in the future.

Funding Implications and Future Prospects

The $75 million funding principally aims to expand Daylight’s network infrastructure, representing both direct growth capital and financial structuring for scaling purposes. Institutional involvement in the solar energy sector offers long-term expansion prospects for the project. Potential token integration may utilize an established blockchain, though specifics remain unconfirmed.

The absence of a tradeable token means no immediate effects on ETH, BTC, or other major assets. Comparisons can be drawn with similar projects like Helium, whose fundraising rounds led to rapid network expansion and speculation upon token launch. However, such effects are yet to be seen with Daylight.

Community Dynamics and Regulatory Standpoint

No major updates from developers or on GitHub were recorded post-funding announcement. However, community discussions on platforms like Telegram and Discord demonstrate enthusiasm for DePIN projects in the energy sector, though developer input remains absent.

On the regulatory front, the SEC reportedly considers DePIN tokens “fundamentally outside jurisdiction,” which could simplify compliance for Daylight’s future token activities. Although no formal SEC filings are identified about this funding round, this regulatory view could facilitate Daylight’s growth trajectory.