Light Secures $46 Million in Series A Funding to Expand Retail Electricity Plans
Texas-based startup Light has raised $46 million in a Series A funding round, led by Matrix and joined by other investors. The company provides businesses with the ability to offer customized retail electricity plans for their customers. This investment will support expansion beyond Texas into larger markets like PJM as it challenges traditional power providers. Light partners with solar companies, EV charging stations, multi-family buildings, and others to create tailored energy solutions while managing regulatory compliance, billing, and procurement behind the scenes. The company has raised around $60 million since its 2023 founding and now operates on a capital base exceeding $100 million when including credit access. The funding comes amid rising electricity demand and costs in the U.S., with Light aiming to disrupt an industry dominated by large incumbents offering one-size-fits-all solutions. CEO Baker Shogry emphasized that enabling partners to offer unique energy plans is central to their strategy, especially as more companies seek direct relationships with customers for hardware like solar systems or EV chargers.
Topics: electricity plans energy retail electricity market startup