New York-based green building tech startup BlocPower raised $150M in fresh funding to advance its mission of providing modern cooling, electric heating, and hot water systems for apartments and homes across the U.S.
Over $24M of the funding came through a Series B equity round led by VoLo Earth Ventures, with the remaining $130M coming in the form of debt financing led by Goldman Sachs.
- The fresh funding brings the firm's total raised to date to over $250M.
- BlocPower intends to use the fresh funding to expand its electrification programs across the U.S., further develop its BlocMaps SaaS analytics platform, and strengthen administrative capabilities.
- Other participants in the funding round include Microsoft Climate Innovation Fund, Credit Suisse, New York State Ventures, Gaingels, Kapor Capital, and others.
- 13% of the U.S. greenhouse gas emissions in 2020 resulted from using fossil fuels to power heating and hot water systems in buildings, per the federal Environmental Protection Agency.
