FranklinWH Closes USD-25m Investment Round
- FranklinWH Energy Storage Inc., a US residential energy storage systems (ESS) company, has raised USD 25 million (EUR 23.1m) in Series B funds. Particle Future led the round to enhance R&D, optimize supply chain, and expand operations and sales network. Franklin Home Power integrates solar, battery, grid and generator power sources. Founded in 2019 and funded by Sequoia Capital. Gary Lam says the new capital will make renewable energy options more accessible.
FranklinWH Energy Storage Inc, a US residential energy storage systems (ESS) company, has raised USD 25 million (EUR 23.1m) in a Series B financing round. The funding round was led by early-stage venture fund Particle Future. The new capital will be used for expanding the start-up’s research and development (R&D), optimising its supply chain, and expanding operations and sales network. FranklinWH's flagship product, the Franklin Home Power, integrates solar, battery, grid and generator power sources and their management. The company was originally funded by venture capital firm Sequoia Capital and was founded in 2019. FranklinWH's co-founder Gary Lam said the funding from Particle Future will help the company advance home battery technology and make renewable energy options more accessible.
How is FranklinWH Energy Storage Inc Expanding?
- Developing and launching new products in order to increase their portfolio of energy storage solutions
- Investing in research and development to maintain their competitive advantage
- Expanding their sales force to reach more customers in the US
- Building a larger network of service and support centers, making their services more accessible
- Optimizing their supply chain to increase production and ensure timely delivery of products
- Enhancing their existing product offerings to meet the changing needs of customer.
- Developing innovative marketing campaigns to reach more potential customers
- Establishing strategic partnerships with leading industry players to leverage their resources
