Arcadia has completed a growth round to support the expansion of its community solar program, alongside products that leverage AI to unlock new use cases based on the company’s energy data.
The round includes a fund managed by Macquarie Asset Management as a new equity investor, alongside existing investors Energy Impact Partners, JP Morgan Asset Management, BoxGroup, G2 Venture Partners, Camber Creek, Triangle Peak Partners and Broadscale Group.
“This funding will allow Arcadia to continue to meet growing demand from our more than 300 enterprise customers and more than 75 community solar developer partners, all of whom are accelerating deployment and adding new solutions such as battery storage, heat pumps and EV charging to their portfolio. ” says Kiran Bhatraju, Founder and CEO of Arcadia.
Coinciding with the closing of the financing round, Arcadia entered into a new $30 million credit facility with JP Morgan.
