Daylight, a decentralized energy company, has raised $75 million to expand its blockchain-based power network, the firm announced on X on Thursday.
The round includes $15 million in equity led by Framework Ventures, alongside $60 million in project financing 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 electric grid designed to improve affordability and reliability by connecting capital directly to power generation.
At the core 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 community,” allowing users to contribute to — and profit from — a decentralized, onchain power grid.