PHILADELPHIA, Pa., [Date] /PRNewswire/ — ConnectDER, a leading provider of fast connection adapters for solar and distributed energy resources (DER), has successfully closed a Series C funding round with a total of $27 million. The investment was led by Energy Innovation Capital (EIC), with participation from prominent investors including LG Technology Ventures, Evergy Ventures, Riverstone, and existing backers Skyview Ventures, Clean Energy Ventures, and Avista Development. As part of the deal, Rajan Gupta, Senior Managing Director at EIC, will join the ConnectDER Board.
The newly secured funds will be used to drive the expansion of ConnectDER’s existing solar adapter solutions into new markets. Additionally, the company plans to launch a new product line for electric vehicle (EV) applications and develop a next-generation product suite that facilitates the electrification and integration of multiple energy assets.
Under the leadership of Founder and CEO Whit Fulton, ConnectDER has revolutionized the residential electric power system upgrade process with its innovative meter collar technology. This groundbreaking solution enables homeowners to seamlessly integrate grid-ready solar photovoltaic systems into their homes, regardless of the property’s age or amperage limitations. ConnectDER’s low-cost and efficient one-hour installation eliminates the need for complex and costly circuit-breaker panel or in-home wiring upgrades, as well as the requirement for additional amperage from utility companies. Moreover, ConnectDER’s versatile product is future-proofed to support connections for electric vehicle chargers and backup power systems.
With operations already established in 17 states, including New York, Arizona, Vermont, and Colorado, ConnectDER has deployed over 15,000 units across the nation, cementing its position as a trusted provider in the industry. The funding injection from the Series C round will enable the company to accelerate its market expansion efforts and bring its innovative solutions to more households and businesses nationwide.
ConnectDER’s commitment to streamlining renewable energy integration and enabling sustainable solutions has earned recognition and trust from customers across the country. As the clean energy transition gains momentum, ConnectDER is poised to play a significant role in advancing the adoption of solar and distributed energy resources.