ElectrIQ Raises $6 Million Seed Round to Finance Home Storage Push

By [email protected] Bay Area startup ElectrIQ raised a $6 million seed round to support its challenge to the home storage incumbents.

Earlier this month, the company released a new product, the PowerPod, which packs 11 kilowatt-hours of energy capacity, an inverter and smart home integration into one $8,999 package. That left the question of how a 17-person startup could sustain competition with the likes of Tesla’s Powerwall or LG Chem’s Resu.

The company offered up some answers this week.

It has raised $6 million in a combination of debt conversion financing and new equity financing. GreenSoil Building Innovation Fund, a Canadian firm backed by real

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