Decentralized energy network Daylight secures $75 million in funding

Huoxun Finance reported on October 16th that Daylight Energy announced the completion of a $75 million financing round, including $15 million in equity led by Framework Ventures, with participation from a16zcrypto, LererHippeau, M13, and others, and $60 million in project financing led by TurtleHill Capital. Daylight incentivizes households to install distributed solar and energy storage through a crypto network, with revenue coming from user subscriptions and market compensation for returning electricity to the grid during peak periods. The company launched the DayFi Income Protocol, which on-chains electricity revenue as an asset. Subscriptions are currently available in Illinois and Massachusetts, with plans to expand into DeFi financing in Q4.