Daylight, a decentralized energy company, has raised $75 million to expand its blockchain-based power network, the company announced on X Thursday.
The round includes $15 million in equity led by Framework Ventures, along with $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 electricity grid designed to improve affordability and reliability by connecting capital directly to electricity 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 “through the community,” allowing users to contribute to — and benefit from — a decentralized, onchain power grid.
