Venture Capital: Lunar Energy Raises $300M To “Remove The Use Of Fossil Fuels From Every Home”

August 29, 2022 | Latest News, News, Venture Capital

With this funding, Lunar Energy has emerged from stealth.

Lunar Energy, a startup aiming to transform how we power our homes by building an ecosystem of all-electric products starting with a next-generation home battery system, announced its raise of $ 300 million over two rounds by Sunrun (NASDAQ: RUN), the leading American residential solar and battery storage provider, and South Korea’s SK Group (KRX: 034730). (CISION PR NEWSWIRE)

In an eventful two years since its founding in August 2020 by Kunal Girotra, a former Tesla Energy executive, Lunar Energy has raised $300 million, built a new generation home battery system, and acquired Moixa, a virtual power plant software company. During this time it has built a team of about 250 employees globally working from its California and London offices.

Lunar turns homeowners into active members of the energy economy by giving them the freedom to generate, store and control their own clean energy and share it with their communities.

“More than ever, we need rapid adoption of renewable energy solutions across all sectors to mitigate climate change. Lunar Energy was founded to build affordable hardware and software products for the residential sector to help homeowners generate, store and consume 100% clean energy and remove the usage of fossil fuels from every home,” said Kunal Girotra, Founder and CEO of Lunar Energy.

“The first offering of our product ecosystem is a next-generation home battery system. It’s the first step towards our mission to electrify all homes and connect communities to form clean, resilient virtual power plants—freeing us from power outages, rising energy costs and harmful emissions,” Girotra added.

“From our early patents in smart homes to managing the world’s largest single fleet of home batteries, our Gridshare software has led the industry for more than 10 years and significantly advanced smart home charging,” said Simon Daniel, CEO and co-founder of Moixa.

Related Story: Solar Energy Provider Sun King Raises $260M

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