Picture: Lunar Energy
Lunar Energy has announced that the company and its mission to electrify the home and provide energy independence to homeowners worldwide. The company was led by the former Tesla Energy executive, Kunal Girotra and was founded back in 2020.
The company has raised $300 million in funding two rounds by Sunrun, the nation’s leading residential solar and battery storage provider, and South Korea’s SK Group. Lunar also acquired Moixa, the leading global software company for distributed energy resources (DER) management. ITOCHU and Honda, previous investors in Moixa, now also join Lunar’s team of investors.
“More than ever, we need rapid adoption of renewable energy solutions across all sectors to mitigate climate change. Lunar Energy was founded to build affordable hardware and software products for the residential sector to help homeowners generate, store and consume 100% clean energy and remove the usage of fossil fuels from every home,” said Kunal Girotra, Founder and CEO of Lunar Energy.
“The first offering of our product ecosystem is a next-generation home battery system. It’s the first step towards our mission to electrify all homes and connect communities to form clean, resilient virtual power plants—freeing us from power outages, rising energy costs and harmful emissions.”
Lunar has built a team of nearly 250 employees globally, most of whom are a mix of hardware, firmware and software engineers designing and building energy products in its Mountain View, CA and London, UK offices.
“As an entrepreneur, I’m always looking for those rare opportunities where you can invest in exceptional people with a big vision,” said Lynn Jurich, Chair of Lunar Energy and co-founder, co-executive chair of Sunrun.
“Kunal, and the engineering team at Lunar Energy, are building at scale home electrification products that will dramatically accelerate the switch from fossil fuels to renewables. I’m excited to see Sunrun, and the industry at large, begin offering Lunar Energy solutions to millions of homes across the nation.”
The capital raised has been used to hire great talent, acquire Moixa, and invest in product development and manufacturing activities in order to bring Lunar’s first product to market later this year.
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