Celebrating Smartcar’s Next Chapter

We’re proud to announce that Smartcar, a connected-vehicle platform, has been acquired by Everyday Electric (formerly Renew Home). The deal expands Everyday Electric’s virtual power plant (VPP) platform beyond thermostats and HVAC to include electric vehicles.

Smartcar was founded in 2015 when co-founders and brothers Sahas Katta (CEO) and Sanketh Katta (former CTO) saw growing demand for more efficient, more connected vehicles. Cars were becoming more complex, and they increasingly relied on an integrated backbone of software applications that linked to cars’ operating systems for things like vehicle mileage, digital car keys, EV charging, fleet tracking, driving behavior, and more. What these applications lacked, however, was a standard way to connect across multiple OEM interfaces. Smartcar's API solution fixed this, helping developers build new products quickly and securely through a standardized platform. Since our 2022 investment, they have grown to help over 27,000 app developers work with over 45 compatible brands in 33 countries, launching projects for energy management, insurance, vehicle servicing, fleet logistics, and more.

Everyday Electric (formerly Renew Home) similarly builds out the digital backbone of energy assets within the home. Launched by Ben Brown (CEO) in 2024 as a spinout from Google Nest, Everyday Electric is currently the largest residential virtual power plant (VPP) in the U.S., helping to create a more reliable and affordable grid by enabling flexible automations for in-home energy products like smart thermostats. By aggregating and orchestrating energy assets across a distributed network of homes, Everyday Electric coordinates over 6 gigawatts of power capacity and aims to save homeowners over $5 billion in costs in the next five years.

Everyday Electric’s acquisition of Smartcar marks the company’s expansion from thermostats and HVAC systems to a whole-home VPP, bolstering its ability to save customers money through smart charging and automotive integrations. Everyday Electric will also expand Smartcar’s existing partnerships with global OEMs to bring its solution to more households and brands.

Congratulations to Sahas, Ben, and the rest of the Smartcar and Everyday Electric teams on this exciting step toward a more flexible, distributed grid.