LightSail Energy Raises $37.3M in Series D Funding

LightSail Energy, a Berkeley, CA-based developer of energy storage technology, has raised $37.3m in Series D funding.

The round was led by Peter Thiel, with participation from Khosla Ventures, which incubated the company, Bill Gates, Innovacorp, and other investors.

The company intends to use the capital to bring its first grid-scale energy storage products to market.

Founded in 2009 by CEO Steve Crane, CSO Danielle Fong, and CTO Ed Berlin, LightSail Energy is applying thermodynamics (the science of heat transfer and utilization) to solve the problems of today’s electrical grid makeing power available when it’s needed, not just when it’s available and helping to manage the increasing demand for peak power.

FinSMEs

05/11/2012