A startup developing a home energy system to take on the likes of Tesla has secured $2.6 million.
California-based Kora’s technology consists of a smart panel, modular batteries, a hybrid inverter, and an energy trading platform.
It gives residents an energy storage platform to help them cut their energy bills, and also sell excess energy generated from solar panels on the wholesale market.
“Most people have a 100-year-old technology, a metal box with some plastic switches in their homes,” Greg Connolly, the cofounder and CEO of Kora, told Business Insider. “They have no control over their circuits, no backup, no insight into how their energy is being used.”
Renewable energy is intermittent, which means its supply may not always match demand. That can lead to wasted energy or a forced reduction of power generation, usually from sources like wind and solar.
“We could significantly power more of the grid with renewables, if we just had somewhere to put that power, instead of just turning off all of these solar rays and wind farms when we have nowhere to store it,” Connolly said.
Kora says its platform allows customers to decide which rooms and appliances stay on during a power outage, and use its app to sell excess energy at wholesale market rates.
Connolly, who previously cofounded the meal delivery service Trifecta, said Kora aims for customers to save enough money by reducing their bills and selling surplus energy to make their investment back in “three to five years.” Kora plans to start shipping its systems in January 2026.
The startup bills itself as a Tesla competitor because it offers a fully integrated stack that goes beyond Tesla’s Powerwall, a home battery system that stores energy generated by solar or from the grid. Kora claims to have a higher photovoltaic intake and additional services, such as its energy trading platform.
Cleantech stocks — and, collaterally, climate startups — have had a difficult year as Donald Trump’s “Big Beautiful Bill” slashed federal tax credits for many green energy projects. Connolly said it’s been a tough funding environment, but certain upcoming regulatory changes, such as the FERC Order 2222, would be a boon for customers, as they would be able to participate more freely in the wholesale energy market.
The $2.6 million funding round was led by Moneta Ventures and Growth Factory Ventures. Additionally, Connolly has invested $300,000 of his own money in the startup.
With the fresh funding, the startup plans to focus on its research and development efforts, as well as test manufacturing.
Business Insider got an exclusive look at the pitch deck Kora used to secure the fresh funding.
