Daylight, a decentralized energy company, has raised $75 million to expand its blockchain-based power grid, the company announced Thursday on X.
The round includes $15 million in equity led by Framework Ventures, as well as $60 million in project funding from Turtle Hill Capital, with participation from a16z crypto, M13, EV3 Ventures, Lerer Hippeau and others.
The funding will accelerate the development of the Daylight Network, which aims to create a decentralized power grid designed to improve affordability and reliability by directly connecting capital to power generation.
At the heart of this system is “DayFi,” a DeFi protocol that allows investors to gain exposure to electricity as an asset class, transforming the electron into what the company calls “a new form of digital commodity.”
Daylight said it envisions an energy infrastructure that scales “across the community,” allowing users to contribute to and benefit from a decentralized, on-chain electricity network.
