National Renewable Network raises $4.3m in oversubscribed round
The Sydney-based startup is rapidly scaling its renewable energy marketplace model, aiming to deploy solar and batteries to 2,000 homes per month.
National Renewable Network (NRN), an Australian startup focused on making renewable energy more accessible, has raised $4.28 million in a pre-Series A funding round.
The Sydney-based company initially aimed for $2 million but attracted strong investor interest, leading to the round being three times oversubscribed, according to founder and chief executive Alan Hunter. After careful deliberation, NRN opted to raise $4.28 million to maintain strategic alignment and prepare for an upcoming Series A round.
"This funding milestone demonstrates strong confidence in our mission and model," said Hunter. "Being three times oversubscribed highlights the growing belief that renewable energy access should not depend on wealth."
Investors in the round included the Club Investible syndicate, Electrifi Ventures, and new commitments from Jelix Ventures and Ecotone Partners. The round follows a $13.5 million raise in December and a $1 million bridge round in April led by Investible’s Climate Tech Fund.
