TLDR:
- Sacramento-based Eli Technologies Inc. has raised $6.8 million in venture capital to grow subscription sales to its platform to help contractors find government and utility incentive programs for residential electrification upgrades.
- The funding was led by Jackson, Wyoming-based Lowercarbon Capital and Spero Ventures of Redwood City.
In a recent article by Sacramento Inno, it was reported that Eli Technologies Inc., a Sacramento-based company, has secured $6.8 million in venture capital funding. The funding was led by Lowercarbon Capital and Spero Ventures, with the goal of expanding subscription sales for Eli’s platform. The platform is designed to help contractors identify available government and utility incentive programs for residential electrification upgrades. Eli CEO Jeff Coleman highlighted the complexity of these programs and the challenges in accessing them. The company’s platform aims to provide a solution by offering software to navigate the various programs, identify available incentives, and assist in securing funding for projects.
Founded in December 2022, Eli Technologies currently has 14 employees and operates primarily in California and New York. However, with the Inflation Reduction Act of 2022 creating more residential electrification programs nationwide, the company is poised for expansion. Eli’s platform offers information on available funding, guidance on navigating application processes, and alerts on program updates. The company operates on a software-as-a-service subscription model and charges a fee per project processed successfully.
By providing contractors with essential information on funding availability and program details, Eli aims to streamline the process of accessing incentives for residential electrification projects. The company’s focus on simplifying the complex landscape of government and utility incentive programs has garnered the support of investors like Lowercarbon Capital and Spero Ventures. With a growing market for energy efficiency upgrades, Eli Technologies is poised for further growth and impact in the industry.
