TLDR:
- Arcadia, a Washington-DC-based provider of a utility data and community solar platform, raised $50M in funding.
- The funding included Macquarie Asset Management as a new equity investor, alongside existing investors Energy Impact Partners, J.P. Morgan Asset Management, and others.
In April 2024, Arcadia announced that it had raised $50M in funding, with Macquarie Asset Management as a new equity investor, joining existing investors Energy Impact Partners, J.P. Morgan Asset Management, and others. In conjunction with the funding, Greg Callman of Macquarie joined the company’s Board of Directors. Additionally, Arcadia closed a new $30M credit facility with J.P. Morgan and amended an existing facility with TriplePoint Capital to provide more financing flexibility at a lower cost of capital.
The company plans to use the funds to grow its community solar program and invest in product innovation, particularly leveraging AI to enable new use cases built on its energy data. Arcadia, led by CEO and Founder Kiran Bhatraju, is a climate technology company that uses its data platform to drive electrification and decarbonization solutions. Founded in 2014, the company also manages a community solar program. This funding round will support Arcadia’s mission to provide global energy data for businesses, helping to accelerate the transition to cleaner energy sources.
