# The React Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-react-network

- Industry: Energy Storage & Batteries
- Headquarters: Austin, US
- Website: www.reactnetwork.io
- Total disclosed funding: $4.2M
- Latest round: Seed (Nov 17, 2022)
- Investors on record: 5

## About

Based in Texas, US, Anode Labs, Inc doing business as The React Network operates as a technology-based company that develops a community-owned decentralized platform that connects with energy storage assets and shares its excess energy with a regional pool. The company was Co-founded by Dallas Griffin (Co-CEO), Jason Badeaux, and Evan Caron. In November 2022, The React Network raised USD 4.2 million in seed funding co-led by Lerer Hippeau Ventures, Lattice Capital, and CoinShares Ventures.

The firm offers a platform that helps users to build a decentralized, sustainable, and stable energy grid system. The firm’s network connects with batteries in homes, businesses, and multi-family living spaces with the help of an electricity sensor. The extra energy shared by these batteries supports the power grid when needed and the people contributing to this source get awarded in the form of cash, crypto, or tokens. The company also offers a mobile application to monitor energy usage, measure conservation, and check in on users’ earnings.

The company generates its revenue by selling electricity sensors which cost USD 259.

The company plans to use the November 2022, funding to develop its product.

## Funding rounds

- Seed, Nov 17, 2022, $4.2M — Lerer Hippeau Ventures, Digital Currency Group, CoinShares Ventures, Lattice Capital Management, Vaynerfund

## Investors

- Lerer Hippeau Ventures — Seed
- Digital Currency Group (https://capitalatlas.ai/funds/digital-currency-group) — Seed
- CoinShares Ventures (https://capitalatlas.ai/funds/coinshares-ventures) — Seed
- Lattice Capital Management (https://capitalatlas.ai/funds/lattice-capital-management) — Seed
- Vaynerfund (https://capitalatlas.ai/funds/vaynerfund) — Seed