LevelTen Energy, a Seattle, WA-based electric utility company, raised $6.8m in funding.
Backers included Prelude Ventures, Techstars Venture Capital Fund, Founders’ Coop, Wireframe Ventures, Element 8 Fund and Avista Development.
The company will use the funds to continue to expand operations and business reach.
Founded in 2016 by Bryce Smith, a clean tech startup veteran, LevelTen provides an electricity platform for commercial and industrial customers to purchase renewable energy. Its technology-enabled two-sided market aggregates both Power Purchase Agreement (PPA) buyers and sellers, allowing the parties to connect and transact in an efficient way.
It works by aggregating wind and solar projects, constructing optimally-shaped power portfolios, and syndicating the energy to individual buyers in suitable volumes.