Climate Tech Startup Arcadia Raises $200 Million

Washington, DC – May 12, 2022 – Cooley advised Arcadia, a technology company empowering energy innovators to fight the climate crisis, on its $200 million funding round, which values the startup at roughly $1.5 billion. Lawyers Derek Colla and Asheley Walker led the Cooley team advising Arcadia.

The financing round was led by JP Morgan Asset Management’s sustainable growth equity team. The funding will help accelerate the impact of Arc – Arcadia’s data and application programming interface platform – by expanding data coverage and new product development to empower companies to monitor, report, and act on their carbon impact.

“Access to comprehensive, accurate utility data has been a fundamental barrier for businesses looking to build climate tech,” Kiran Bhatraju, founder and CEO of Arcadia, said in a company blog post. “This fundraising round will accelerate and expand what’s possible with our data and API platform, Arc,” he added.

Founded in 2014, Arcadia is creating unprecedented access to energy data and renewable energy sources through Arc and the company’s community solar program. Arc fuels the renewable energy revolution by democratizing access to energy data from 125 utilities nationwide, covering more than 80% of US electric utility accounts. Arcadia also manages the nation’s leading community solar program, helping to tackle energy injustice while spurring economic growth with more than 700 megawatts of solar under management.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has 1,500 lawyers across 17 offices in the United States, Asia and Europe.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.