Overview
- Lunar closed a previously undisclosed $130 million Series C led by Activate Capital and a $102 million oversubscribed Series D led by B Capital and Prelude Ventures, bringing new funding to $232 million.
- The company targets roughly 20,000 battery units produced this year and about 100,000 annually by 2028, with design in California and assembly in Georgia and Washington.
- Expansion plans include Texas, Puerto Rico, and Hawaii, while the Gridshare platform runs large VPP programs used by utilities and energy retailers in the U.S., Europe, and Asia; Sunrun operates deployments on Gridshare.
- Lunar reports about 2,000 home installations and nearly 2 gigawatt-hours aggregated into VPPs since 2022, reflecting early traction for its integrated hardware–software approach.
- Customers in VPPs earned an average of $464 last year, and the company says its products qualify for non‑FEOC incentives as it navigates tightening tax-credit rules and potential tariffs on China-linked battery materials.