Lunar Energy nets $300M for home electrification
A home electrification startup, Lunar Energy, emerged from stealth this morning with a pocket full of $300 million — the result of two funding rounds led by SunRun and SK Group.
Why it's the BFD: Just as Google and Amazon have built smart-home ecosystems that encompass everything from thermostats to doorbells to burglar alarms, Lunar says it's creating a comprehensive suite of products to enable homeowners to go all-electric.
Details: Sunrun and SK Group each invested $150 million over the past two years, a Lunar spokesperson tells Axios.
- Lunar also acquired Moixa, a U.K.-based battery technology and energy management software developer. Through the acquisition, Lunar says it gained Itochu and Honda as minority investors, which had previously invested in Moixa.
Of note: Lunar's founder and CEO, Kunal Girotra, was previously head of energy at Tesla.
What’s next: Lunar plans to launch its first product, a home battery system, later this year. It’s also eyeing heating and cooling systems, and, potentially, induction cooktops.
- “Controlling loads in the home is the next logical step for Lunar,” Girotra tells Axios.