Energy Efficiency Startup Redaptive Raises Additional Funding; Closes Nearly $250M Series E
Energy-as-a-service provider Redaptive has raised new funding from long-time investor Linse Capital, in addition to backing from the Canada Pension Plan Investment Board, CBRE, Honeywell and others, bringing its Series E to about $250 million.
The energy efficiency Denver-based startup announced in December it had raised $200 million from the Canada Pension Plan Investment Board and others after ditching plans to take the company public.
Founded in 2015 and led by CEO Arvin Vohra, Redaptive helps customers conserve energy and be more efficient, lowering costs and meeting goals to reduce the carbon footprint. Its “energy-as-a-service platform” allows companies to see their energy usage and can make recommendations on improvements. The firm also can help clients install energy efficiency and sustainability equipment by funding the upfront costs.
“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,” noted Vohra.