Arcadia has closed on a growth round to support expansion of its community solar program, alongside products leveraging AI to unlock new use cases built on the company’s energy data.
The round includes a fund managed by Macquarie Asset Management as a new equity investor, alongside existing investors Energy Impact Partners, J.P. Morgan Asset Management, BoxGroup, G2 Venture Partners, Camber Creek, Triangle Peak Partners and Broadscale Group.
“With this funding, Arcadia can continue to meet growing demand from our 300-plus enterprise customers and 75-plus community solar developer partners, all of whom are accelerating deployment and adding new solutions like battery storage, heat pumps and EV charging to their portfolios,” says Kiran Bhatraju, founder and CEO of Arcadia.
Concurrent with the close of the financing round, Arcadia closed a new $30M credit facility with J.P. Morgan.
The post Arcadia Raises $50M to Accelerate Community Solar Product Growth appeared first on Solar Industry.
Arcadia Raises $50M to Accelerate Community Solar Product Growth
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