Span
Accelerating home electrification
Problem
The electrification of homes is accelerating as the world moves towards decarbonization. Demand for Electric vehicles, Solar power, and Battery storage are growing on the back of consumer adoption and government stimulus. Electrification of homes requires assembling multiple complex systems but home electrical systems are not standardized requiring custom solutions that inhibit scale.
Investment Rationale
Span’s core business is the production of smart electricity management products. Span bet on the electrical panel as the center of electrification at homes has given them a first mover advantage in product development that leaves competition years behind.
Arch Rao, ex-head of products for Tesla Energy, demonstrated a profound vision and understanding of the upcoming needs for home electrification. Rather than focusing on the current solutions being developed for incremental clean electricity consumption, Arch focused on the future needs of a fully electrified home system when we met him.
The ambition of the team and their goal were paired with the company execution speed up to date, with a first commercially ready hardware product superior to any market alternatives built in approximately 2 years since inception.
