Montreal-headquartered smart home energy startup, dcbel, has raised $50 million in funding through its Series B round, with the raised capital intended to expedite the rollout of its innovative residential charging solution, the Home Energy Station.
Established in 2015, dcbel specializes in empowering homeowners with tools to harness renewable energy resources like solar panels, batteries, and electric vehicles. These resources not only aid in averting power outages but also facilitate cost savings during periods of elevated energy prices.
The company’s flagship product, the r16 Home Energy Station, features bidirectional EV charging, enabling electric vehicles to serve as backup energy sources for homes. Additionally, the device converts solar energy into electricity and employs historical energy consumption patterns to forecast energy requirements, thereby procuring clean electricity at minimal expense.
Marc-Andre Forget, CEO of dcbel, said:
“This funding positions our company to accelerate our growth and is a testament to the strength of our team, product and traction. We are proud of bringing to market a sustainable solution to accelerate the energy transition and give homeowners control over their energy.”
Energy transition-oriented investor, Idealist Capital, took the lead in the funding round, accompanied by engagement from Quebec’s financial institution, Investissement Québec. Pierre Larochelle, who serves as Co-Managing Partner at Idealist Capital, will assume a position on dcbel’s Board of Directors as a result.
“For over a decade, I have focused on climate impact investments in the renewable energy and storage, energy efficiency and electrification sectors,” said Mr. Larochelle. “dcbel sits at the nexus of all these industries, representing a truly exciting opportunity to change the way we think about home energy. I am honored to join dcbel’s board as the company brings its innovations to market.”