Multi-Stage VC Raised $100m To Transform Energy, Building, and Industrial Sectors

The Westly Group, a Menlo Park, CA-based multi-stage venture capital firm, raised a $100M seed fund to invest in entrepreneurs transforming the energy, mobility, building, and industrial sectors.

Limited partners in the seed fund include existing investors Alaska Airlines, Duke Energy, Origin Energy, American Electric Power, and Trane Technologies. New investors include PPL, Pinnacle West Corporation, ONEOK, OGE Energy Corp., Vontier, Avista, and Evergy. They join a group of financial institutions and prominent family offices to close out the seed fund.

The seed fund is an extension of the firm’s four core funds, which includes a $312M Fund IV focusing on A, B & C Round investments.

The Westly Group’s seed fund has led three investments to date:

• Condoit, an all-in-one data platform designed for electrical engineers and commercial electricians in the field, with a mission to transform electrical infrastructure
• Diagon, a supply chain software company focused on automated capital expenditure (CapEx) procurement for manufacturers
• Sightline, a market intelligence company that provides investors, corporations, and governments with insights into climate sectors and technologies

The firm now has a family of funds investing from seed through Series C, has expanded its team, and opened new offices in San Francisco and Washington, D.C. in addition to the Silicon Valley office.

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