PosiGen powers series D up to $60m

PosiGen, a US-based home energy technology provider backed by energy company Exelon, has completed a $60m series D round having raised a further $27m.
Activate Capital, Kayne Anderson and SJF Ventures put up the extra funding, which followed a December 2020 first close co-led by Builders Fund, The 2040 Fund and Emerson Collective.
Founded in 2011, PosiGen provides solar energy systems and energy efficiency equipment for homeowners through contractors across five US states and will use the series D proceeds to expand into additional markets.
Rooftop solar system provider GAF Energy had supplied $20m in tax equity funding for PosiGen in April 2019 following $5m from Stonehenge Growth Capital in 2017 through the Invest CT scheme.
The company had already raised $20m from Exelon’s Constellation Technology Ventures subsidiary and NewWorld Capital Group in 2016 following a total of $49m in debt and equity financing from Goldman Sachs’ Urban Investment Group the previous year.