Anode Labs, an Austin, TX-based technology company committed to building a stable, sustainable, and abundant energy system for humanity, raised $4.2M in funding.
The round was co-led by Lerer Hippeau and Lattice with participation from VaynerFund, CoinShares, and Digital Currency Group.
The company intends to use the funds to develop its Web3 platform, expand operations and its business reach.
Founded by Dallas Griffin, Jason Badeaux and Evan Caron, Anode Labs is the team behind React. The company provides a decentralized Web3 platform that offers small businesses and individuals cash and tokenized incentives for connecting their energy storage assets. React’s network will allow participants to connect their home batteries to the company’s Web3 network in order to be rewarded for the relative contribution of their specific assets. Anode is creating opportunities for homeowners to earn compensation while supporting the energy grid and combating climate change at the same time.
The company is also advancing the Energy Flexibility Tariff Database, an open-source database of national DR incentives.