What is ConnectDER?
ConnectDER is revolutionizing the integration of Distributed Energy Resources (DERs) by transforming electricity meter sockets into comprehensive interconnection points. This enables seamless integration of solar power, battery storage, and electric vehicle charging, offering benefits to consumers, the grid, and the environment. Their solutions are designed to accelerate interconnection processes, enhance safety, and significantly reduce installation costs by eliminating the need for extensive in-home wiring and service panel upgrades. ConnectDER's technology is currently approved for deployment in over 20 states, reaching more than 16 million households, positioning it as a key player in the evolving energy landscape.
How much funding has ConnectDER raised?
ConnectDER has raised a total of $70.3M across 4 funding rounds:
Series A
$1.1M
Series B
$7.3M
Series C
$27M
Series D
$35M
Series A (2017): $1.1M, investors not publicly disclosed
Series B (2020): $7.3M led by Avista Development Inc, Skyview Ventures, and Clean Energy Ventures
Series C (2023): $27M supported by Evergy Ventures, Energy Innovation Capital, and Skyview Ventures
Series D (2024): $35M featuring Temasek, Evergy Ventures, LG Technology Ventures, Energy Innovation Capital, ZOMA Capital, MassMutual Ventures, Clean Energy Ventures, Avista, and BlackRock
Key Investors in ConnectDER
Temasek
Temasek is a global investment company headquartered in Singapore, known for its generational investment approach focused on long-term impact and sustainability.
Evergy Ventures
Evergy Ventures provides investment capital and strategic support to innovative companies focused on creating cleaner, safer, and more reliable energy solutions within the energy ecosystem.
LG Technology Ventures
LG Technology Ventures is a venture capital firm supporting early- and growth-stage innovators across sectors like AI, biotech, and cleantech, offering capital and access to LG Group's global network.
What's next for ConnectDER?
With the recent influx of capital, ConnectDER is poised for significant expansion and further technological development. The major strategic investment suggests a focus on scaling operations, broadening market reach, and potentially forging new partnerships within the energy sector. This funding round, likely a Series D given the context, indicates the company is moving beyond early-stage development and into a growth phase, aiming to solidify its market position and capitalize on the increasing demand for smart grid solutions and renewable energy integration. Future initiatives will likely involve expanding its approved state coverage and enhancing its product offerings to meet the dynamic needs of the DER market.
See full ConnectDER company page
