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 sensible power know-how, considerably advances Ivy Power’s quest to remodel the adoption of photo voltaic power inside shared communities, catalyzing a major shift in the direction of sustainability in an underserved actual property area and combating local weather change. Ivy’s breakthrough know-how permits property house owners 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 Influence (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 house owners.
“As ClimateTech buyers, we search for options that assist speed up the decarbonization of the Constructed Surroundings throughout all asset courses. As onsite solar energy era continues its fast progress, shared areas like multifamily housing are being disregarded,” famous Dave Kolada, Managing Associate, GreenSoil PropTech Ventures and Board Member of Ivy Power. “We’re bullish on Ivy as its SaaS resolution helps open up an enormous new asset class for clear power manufacturing whereas making a win-win for Actual Property house owners and tenants.”
Charting a Sustainable Path Ahead
“Ivy was based on the idea of democratizing clear power entry by instantly addressing the boundaries which have blocked renewable power investments in multi-unit environments. Our platform unlocks new web working earnings for purchasers and financial savings to renters–all whereas enhancing grid worth and stakeholder alignment. This funding provides us the sources to scale in earnest, making use of our best-in-class software program resolution to allow onsite photo voltaic and distributed power sources for multi-tenant properties” – Dover Janis, CEO of Ivy Power
The problem of cut up incentives has traditionally created boundaries to the adoption of onsite photo voltaic and distributed power sources. In consequence, property house owners 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 courses of actual property. Ivy has pioneered an answer to beat these boundaries to adoption by means of its award-winning Digital Grid software program, powered by proprietary algorithms and sensible 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 modern 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 house owners.
“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 house owners and driving advantages for the whole grid. With this new financing, Ivy is about to deliver our options to extra jurisdictions as we introduce new merchandise, enhanced end-user experiences, and extra income streams for Ivy’s purchasers 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 companies. Central to this suite is Ivy’s Digital Grid Cloud, which unlocks photo voltaic power distribution and battery storage to reinforce property proprietor revenues and decrease tenant power prices. Along with revolutionizing distributed power administration, Ivy Power gives a seamless EV charging product, integrating electrical car infrastructure into its sensible power options. With a deal with 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 know-how with sustainability. https://www.ivy-energy.com/
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