Total amount raised
$63.8 Million
Latest funding date
07/01/2023
Location
Bright has successfully raised $31.5 million over 9 funding rounds, with the latest being a Debt Financing round. The company is backed by 18 investors, including notable names like Mirova and IFU.
Keep reading to explore the intricacies of Bright's fundraising journey and the investors backing this innovative platform.
What Is Bright?
Bright, founded in 2015, is a renewable energy company based in Mexico City, Distrito Federal, Mexico. The company specializes in providing solar-power subscription services to homeowners, aiming to democratize access to renewable energy.
With a workforce of 101-250 employees, Bright offers flexible and customized energy solutions, including solar energy systems and energy storage systems. The company is backed by notable investors and partners, including the Inter-American Development Bank and Y Combinator.
How Much Funding Has Bright Raised?
- Seed Round
- Amount Raised: USD 4,000,000
- Date: August 2015
- Lead Investors: First Round Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial solar energy solutions.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and expand their solar energy solutions.
- Series A
- Amount Raised: USD 6,824,805
- Date: June 2017
- Lead Investors: Ajax Strategies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology infrastructure.
- Series B
- Amount Raised: USD 7,514,660
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve service offerings.
- Debt Financing
- Amount Raised: USD 10,000,000
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and manage financial obligations.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: November 2022
- Lead Investors: MGM Innova Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance market presence and develop new projects.
- Series C
- Amount Raised: USD 35,500,000
- Date: July 2023
- Lead Investors: IFU
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To reduce financing and equipment costs, expand financing options, and invest in technology.
- Debt Financing
- Amount Raised: USD 15,000,000
- Date: October 2025
- Lead Investors: Mirova
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support financial stability and future growth initiatives.
Total Amount Raised: USD 78,839,465. Current Valuation: Not publicly disclosed.
Key Investors
- Mirova
- Details: Mirova is a sustainable investment firm that focuses on creating positive environmental and social impact. They have been a lead investor in multiple debt financing rounds for Bright.
- Investment Focus Areas: Sustainable development, renewable energy, social impact.
- Notable Investments: Not publicly disclosed.
- IFU (Investment Fund for Developing Countries)
- Details: IFU is a Danish development finance institution that promotes economic and social development in developing countries. They led the $35.5 million Series C funding round for Bright.
- Investment Focus Areas: Economic development, social development, green transition.
- Notable Investments: Over 1,300 companies in developing countries.
- First Round Capital
- Details: First Round Capital is a venture capital firm that specializes in seed-stage funding for technology companies. They were an early investor in Bright.
- Investment Focus Areas: Technology startups, seed-stage funding.
- Notable Investments: Uber, Square, Warby Parker.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding, advice, and connections to early-stage startups. They have supported Bright since its early stages.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Leonardo DiCaprio
- Details: Leonardo DiCaprio is an actor and environmental activist known for his investments in sustainable and green technologies. He participated in the Series C funding round for Bright.
- Investment Focus Areas: Environmental sustainability, clean energy, conservation.
- Notable Investments: Beyond Meat, Runa, Diamond Foundry.
What's Next for Bright?
Bright's future looks promising as they capitalize on the $35.5 million Series C funding to expand their operations in Mexico. The company aims to reduce financing and equipment costs, making solar energy more accessible to a broader audience. This significant capital injection will enable Bright to scale their business, invest in new technologies, and enhance their market presence.
With the growing demand for renewable energy solutions, Bright is well-positioned to attract further investment. The involvement of high-profile investors in the recent funding round suggests potential for future fundraising opportunities. However, the company may face challenges such as market competition, regulatory hurdles, and the need to continuously innovate to stay ahead in the renewable energy sector.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Bright and gather other critical business insights. Sign up for free to start unlocking valuable information that can drive your sales strategy and business growth.
