Glow, a solar energy startup, has raised $30 million in a fresh round of funding headed by Union Square Ventures and Framework.
According to a press release from Glow, the money raised will be used to decentralize the global energy grid and hasten the adoption of renewable energy in India and around the world.
Glow claims that by concentrating on areas with plenty of sunlight and cheap electricity, the company is able to create premium carbon credits.
According to Glow, its three solar farms in Rajasthan have already begun production, producing 21.3 MW of solar power overall.
Glow uses third party data providers such as WattTime to measure the true carbon impact of the electricity produced by each solar panel.
About Glow
In order to encourage the generation of renewable energy, the company connects solar farms via a Decentralised Physical Infrastructure Network (DePIN) using blockchain technology. With the help of the sale of premium carbon credits produced by its projects, Glow hopes to enter new markets.
