King Energy raised $10M in a seed funding round led by ArcTern Ventures to install solar panels on commercial buildings and sell the electricity to tenants.

Oct 16, 2024•about 1 year ago

Amount Raised

$10 Million

Round Type

seed

DurangoEnvironmental Services

Investors

Arc Tern Ventures

Description

King Energy has secured a $10 million seed round to further its mission of installing solar panels on commercial buildings. The startup's innovative software addresses common landlord concerns regarding solar adoption by simplifying the billing process for tenants.

Company Information

Company

King Energy

Location

Durango, Colorado, United States

About

King Energy deploys and manages solar programs for multi-tenant commercial properties, such as shopping centers, office buildings and industrial complexes. King Energy pays property owners rent to use open roof space and deploys solar infrastructure at its own expense, turning unused roof tops into a source of rental income and renewable energy. King Energy uses market-leading technology and an innovative financing model to create financial value for property owners and building tenants, creating a financially viable way to speed the adoption of clean energy by US retail centers and business parks.

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Funding Insights

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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