Unlocking the home electrification capital stack with Eli Technologies.
Co-leading Eli’s Seed round.
At Spero Ventures, we believe in the power of Catalytic Climate Companies. We understand that financing and financial innovation are pivotal in driving the energy transition and electrification broadly. Governments at all levels, from federal to state and local, are playing their part by introducing incentives and rebate programs to make home electrification, electric vehicles (EVs), and renewables economically reasonable. However, the process of accessing these benefits is riddled with complexities. Requirements often lack clarity, and the absence of transparency from program administrators introduces unnecessary risks for contractors and consumers.
Eli is unlocking the home electrification capital stack with software and APIs. Eli’s tools simplify the flow of rebates and incentives, addressing the numerous challenges faced by consumers, contractors, governmental agencies, and the third-party administrators they collaborate with in accessing and managing these programs.
Our journey to Eli was deliberate. As we navigated the home electrification landscape, we identified the challenges associated with rebates, incentives, and the electrification capital stack as ripe for innovation. It was then that we were fortunate to cross paths with Jeff Coleman and his co-founders, Adrian and Eduardo Del Balso (Special thanks to Adam at Looking Glass Capital!).
Jeff, Eli’s CEO, has a diverse background that perfectly aligns with the company’s mission. He has been involved in mission-driven startups, politics, the energy sector, and nonprofits, consistently leveraging technology to drive change at scale. Joining Jeff are brothers Adrian and Eduardo Del Baso. Adrian, who leads product development at Eli, has collaborated with Jeff for over a decade. His natural talent for product development, leadership, and communication makes him an invaluable part of the team. Eduardo, the CTO, has deep expertise in building flexible software platforms servicing complex financial products, uniquely aligning with the technical challenges Eli is addressing.
The combination of Jeff’s industry insights, Adrian’s product instincts, Eduardo’s technical foundation, and their decades-long collaboration feels like both the culmination of remarkable experience to date and the beginning of something incredibly special.
At Spero Ventures, we believe that mission matters, and Eli is a prime example of the kind of team we are eager to support. Jeff, Adrian, and Eduardo have already attracted exceptional talent to Eli. Even more inspiring was the team’s unwavering energy and commitment to Eli’s mission of accelerating equitable electrification by addressing complex problems and sharing their solutions with the broader movement.
Thank you to the Eli team for letting us be a part of your story. We are also thrilled to work with Lowercarbon, a firm we deeply respect. We look forward to partnering Jeff, Adrian, Eduardo and the whole Eli team as they build the digital infrastructure for the electric future. Onwards!
