Ivy Power Secures $18M in Sequence A Funding Set to Speed up Onsite Photo voltaic for Multi-tenant Properties
Cleantech San Diego member and Southern California Power Innovation Community firm Ivy Power, the creator of the trailblazing Digital Grid Cloud software program, introduced the closing of a $18 million Sequence A funding spherical. This funding spherical, led by SolarEdge, a worldwide chief in good power expertise, considerably advances Ivy Power’s quest to remodel the adoption of photo voltaic power inside shared communities, catalyzing a big shift in the direction of sustainability in an underserved actual property area and combating local weather change. Ivy’s breakthrough expertise permits property homeowners to hedge towards utility inflation, sustain with sustainability mandates, and enhance their belongings’ tangible market worth. Residents, in flip, take pleasure in decrease power payments and the satisfaction of contributing to a greener planet.
In a difficult monetary local weather, Ivy Power’s method and imaginative and prescient for a renewable future drew substantial investments from notable buyers, together with GreenSoil PropTech Ventures, American Household Insurance coverage Institute for Company and Social Impression (AmFam Institute), Legacy Capital Ventures, Enki Photo voltaic Investments, and Unit Chief. This signaled a robust market perception within the potential for a distributed energy revolution that brings extra stability and advantages to native communities and property homeowners.
“As ClimateTech buyers, we search for options that assist speed up the decarbonization of the Constructed Setting throughout all asset lessons. As onsite solar energy technology continues its speedy progress, shared areas like multifamily housing are being unnoticed,” famous Dave Kolada, Managing Companion, GreenSoil PropTech Ventures and Board Member of Ivy Power. “We’re bullish on Ivy as its SaaS answer helps open up an enormous new asset class for clear power manufacturing whereas making a win-win for Actual Property homeowners and tenants.”
Charting a Sustainable Path Ahead
“Ivy was based on the idea of democratizing clear power entry by immediately addressing the limitations which have blocked renewable power investments in multi-unit environments. Our platform unlocks new internet working earnings for shoppers and financial savings to renters–all whereas enhancing grid worth and stakeholder alignment. This funding offers us the sources to scale in earnest, making use of our best-in-class software program answer to allow onsite photo voltaic and distributed power sources for multi-tenant properties” – Dover Janis, CEO of Ivy Power
The problem of break up incentives has traditionally created limitations to the adoption of onsite photo voltaic and distributed power sources. Consequently, property homeowners haven’t been in a position to successfully monetize onsite power programs, and photo voltaic belongings on multi-tenant properties are lagging far behind different lessons of actual property. Ivy has pioneered an answer to beat these limitations to adoption by means of its award-winning Digital Grid software program, powered by proprietary algorithms and good grid applied sciences.
The Sequence A funding lays a basis for Ivy to construct on its early success, as the corporate is poised to develop its technological and geographic footprint with revolutionary options for power administration in shared residing areas. Ivy is main the way in which to equitable entry to photo voltaic power for all residents and optimized returns to property homeowners.
“Ivy Power is well-positioned as the primary end-to-end digital platform for managing shared onsite power packages. Our SaaS merchandise ship the financial and social advantages of unpolluted power to tenants of multi-unit properties whereas growing income for property homeowners and driving advantages for all the grid. With this new financing, Ivy is ready to convey our options to extra jurisdictions as we introduce new merchandise, enhanced end-user experiences, and extra income streams for Ivy’s shoppers throughout verticals. We’re past excited for this subsequent part in our progress, as we work to remodel our power economic system by unleashing the dormant potential of distributed power sources on multi-tenant actual property.” – Adam Masser, COO of Ivy Power.
About Ivy Power
Ivy Power is on the forefront of the clear power transformation for multi-tenant actual property, providing a complete suite of onsite power transaction merchandise and technology-enabled providers. Central to this suite is Ivy’s Digital Grid Cloud, which unlocks photo voltaic power distribution and battery storage to boost property proprietor revenues and decrease tenant power prices. Along with revolutionizing distributed power administration, Ivy Power gives a seamless EV charging product, integrating electrical automobile infrastructure into its good power options. With a give attention to proprietor income, compliance, and a data-centric method, Ivy Power simplifies the administration of photo voltaic power and EV charging throughout a number of items whereas offering a best-in-class resident expertise. Ivy Power is paving the way in which for a greener future, seamlessly mixing expertise with sustainability. https://www.ivy-energy.com/
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