Span, a San Francisco, CA-based smart panel company, raised $10.2m in Series A funding.
The round was led by ArcTern Ventures with participation from Capricorn Investment Group, Incite Ventures, and existing investors.
The company intends to use the funds to expand operations and its business reach across the U.S.
Led by founder and CEO Arch Rao, Span has made a smart panel that enables digital automation of home energy and streamlined installations for clean energy upgrades. It offers monitoring and control for 32 circuits, and battery backup during power outages, all managed through a smartphone interface. Since launching the product in late 2019, the company has seen significant demand in the residential market from solar plus storage installers, homebuilders, energy companies, and homeowners.
FinSMEs
15/05/2020