Redaptive – a leading provider of Energy-as-a-Service solutions – announced an additional investment in its series E funding round from long-term investor Linse Capital. This latest funding round follows recent contributions to the round made by Canada Pension Plan Investment Board (CPP Investments), Honeywell, CBRE, and others, which brings the total amount raised for this round to approximately $250 million.
Redaptive’s solutions were designed to help enterprise customers overcome the financial and logistical barriers associated with investing in energy efficiency and sustainability. And by funding the upfront costs, providing turnkey implementation of projects, and measuring the results through smart metering, Redaptive is known as the easy button for organizations looking to achieve net zero.
What the funding will be used for: This funding round represents another significant step towards expanding Redaptive’s offerings and supporting more customers.
And with this, Redaptive is going to continue to support enterprise customers with data-driven energy generation and efficiency programs including HVAC, LED lighting, solar, and EV, as well as Data Solutions, and other utility upgrades that can be deployed at large sites or across distributed real estate portfolios.
KEY QUOTES:
“As one of the original investors in Redaptive, I have seen firsthand the company mature into one of the best players in the energy efficiency and sustainability space that provides a truly differentiated and strong value proposition to its customers. With such a large addressable market in the U.S. and globally, we are doubling down on our investment and look forward to helping Redaptive continue to scale its leading EaaS and Data Solutions platform.”
— Linse Capital founder and managing director Michael Linse
“We highly value our longstanding partnership with Michael and the Linse Capital team who have been integral to our growth and success. This additional contribution further accelerates our ability to bring our solutions to more customers making it possible for them to reduce their carbon footprints and achieve their sustainability goals.”
— Redaptive CEO Arvin Vohra
