ConnectDER raises $35 million

ConnectDER has secured $35 million in Series D funding, bringing its total funding to $80 million. The round was led by Decarbonization Partners, a partnership between BlackRock and Temasek, with participation from MassMutual Ventures , both new investors. Existing investors Avista Development, Clean Energy Ventures, Energy Innovation Capital, Evergy Ventures, LG Technology Ventures, and Zoma Capital also participated.

Founded in 2011, ConnectDER is a Philadelphia-based company specializing in electrical equipment manufacturing. Its flagship product, the ConnectDER Meter Socket Adapter, simplifies and reduces the cost of connecting solar panels, EV chargers, and home energy storage systems to the grid.

It has over 25,000 adapters in operation and approvals in multiple states, aiming to expand nationwide “in the next few years.”

“With this latest Series D funding we’re poised to not only expand our existing markets but also our offerings by bringing a transformative solution for energy storage systems to the market. Our forthcoming IslandDER enables homes to disconnect and reconnect from the grid enabling customers to harness stored energy from solar plus battery systems or EVs providing innovative backup power and resilience to market at an incredibly competitive cost point.” – Ivo Steklac, CEO of ConnectDER.