David Energy, a NYC-based gridtech company, raised $23M in funding.
The round was led by Cathay Innovation, with participation from Union Square Ventures, Keyframe Capital, Equal Ventures, and BoxGroup, among others.
The company intends to use the funds to continue scaling both business lines in its active states and begin expanding across the Northeast and Mid-Atlantic.
Led by CEO James McGinniss, David Energy is a technology-driven retail energy provider (REP) with the mission of running the grid on clean energy 24/7/365. By building a network of connected devices that respond to the fluctuations of clean energy generation in real-time, it is decarbonizing the largest contributor to climate change – the energy sector.
The company currently serves the electricity needs of residents in Texas as well as multi-unit business owners in New York, New Jersey, Massachusetts, and Texas.
Since its launch in 2019, David Energy has raised $50M from venture capital and strategic investors.
