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Solar protection plans provider Omnidian bags USD 15m

Solar installation. Author: Dept of Energy Solar Decathlon.

June 28 (Renewables Now) - US solar protection plans provider Omnidian Inc has raised USD 15 million (EUR 13.2m) in a Series A capital raise led by New York-based insurtech investor IA Capital Group Inc.

Seattle, Washington-based Omnidian has developed a technology that continuously monitors residential solar systems and provides a cash-back performance guarantee to homeowners and businesses. The firm intends to use the fresh funds to expand the reach of its solar protection plan to dealers representing more than 75% of the country’s residential solar market.

“Home and business owners want the assurance that solar will deliver as promised, and Omnidian’s performance guarantee gives consumers that peace of mind,” commented Mark Liffmann, CEO at Omnidian.

Other participants in the funding round include the venture arms of utilities Evergy Inc (NYSE:EVRG), National Grid Plc (NYSE:NGG) and Avista Corp (NYSE:AVA). Investments were also made by Blue Bear Capital, Congruent Ventures and City Light Capital.

(USD 1.0 = EUR 0.880)

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