Daylight Announces $75M Funding Round to Build Decentralized Energy Network

Daylight has reportedly raised $75M in order to build the decentralized energy network powering the world’s most “important” commodity: electricity. This funding round helps them move faster toward an electric grid that delivers what the old one “no longer can: affordability, reliability, and abundant power.”

Daylight has recently noted that the funding round includes $15M in equity led by Framework Ventures, and $60M in project development from Turtle Hill Capital with participation from a16zcrypto and others.

The group of investors claims to see where we’re headed: a world “that needs more power, and faster ways to build it.”

At the center of scaling the Daylight network is “DayFi,” which is described as a DeFi protocol that connects capital to critical energy infrastructure.

DayFi reportedly aims to transform electricity into a new asset class, and allows anyone to gain “exposure to the world’s most important commodity: the electron.”

According to the team, this is how we scale energy abundance. Power that scales through community. Infrastructure that “decentralizes the grid.” And system that grows stronger with “every home that joins.”

There has been a dramatic increase in these so-called energy companies and digital infrastructure providers. Bitcoin mining firms like Riot Platforms and MARA are now contributing to the AI and so-called decentralized economy. Since this industry is in its early stages of development, it is not quite clear whether this ecosystem will mature in a sustainable manner.

Some critics claim that excessive energy and electricity production and consumption is harmful to the climate and overall environment. But its proponents argue that these initiatives place emphasis on significantly improving the power generation process. It is also clear that in the foreseeable future, our society will require considerably more (not less) energy to function effectively. That’s why it might be a good idea to specialize in key processes that make electricity production more efficient to save resources.



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