US-based online clean energy marketplace operator LevelTen Energy has secured $20.5m in a series B round that included petroleum suppliers Equinor and Total, and energy utilities Exelon and Avista Corporation.
Venture capital firm Prelude Ventures led the round, which included Energy Ventures, Element 8 Fund, Founders’ Co-op, Techstars Ventures and Wireframe Ventures. The corporates invested through Equinor Energy Ventures, Total Ventures, Constellation Technology Ventures and Avista Development respectively.
Founded in 2016, LevelTen operates an online platform that facilitates negotiations between buyers and sellers for the supply of renewable energy from sources such as wind farms or solar power plants. It also provides software that helps users find, evaluate and procure renewable power purchase agreements.
The company closed a $6.8m series A round in late 2017 featuring Avista Development, Wireframe Ventures, Prelude Ventures, Founders’ Co-Op, Element 8 and Techstars Venture Capital Fund, an investment vehicle for accelerator operator Techstars.
LevelTen had previously received approximately $820,000 in debt financing in January 2017 before collecting $125,000 in debt seven months later, according to securities filings.