Civic News
Digital access / Environment / Funding / Municipal government / Venture capital

DC Money Moves: District lands $100 million federal grant to expand internet access

Plus, applications are open for Ward 8 entrepreneurs to apply for grants and loans, and Crux adds investors to its Series A.

The John A. Wilson building in Washington, DC. (Kaela Roeder/Technical.ly)
Money Moves is a feature where we chart the raises, mergers and other funding news of tech companies across the region on the third Wednesday of the month. Have a tip? Email us at dc@technical.ly.
It’s been a busy month in the region, with different raises and grants announced throughout. In this Money Moves feature, we highlighted different opportunities for local business owners and fundraising news from DC proper to the Maryland suburbs and Northern Virginia. 

Get all the details below. First, check out our monthly look at which companies are hiring for tech jobs in the region. See how that’s changed since last month and how much they’re paying in this chart:

DC earns federal funds for broadband access 

The National Telecommunications and Information Administration awarded DC $100.6 million to increase internet access and roll out digital literacy training in the city, with a focus on Wards 5, 7 and 8. 

The funds are part of the Broadband Equity, Access, and Deployment (BEAD) Program, which allocated $42.45 billion to boost internet access and infrastructure throughout the US. Mayor Muriel Bowser noted that this funding will help DC “close the digital divide.”

“By ensuring District residents, businesses, and institutions have access to affordable, high-speed internet — and supporting them with trainings on digital literacy and workforce development — we can give more people in the District a fair shot, and remain a leader in tech careers, talent, and innovation,” Mayor Bowser said in a press release. 

Grants for Ward 8 businesses

Applications are now open for the Ward 8 Community Investment Fund. The program offers different tiers of grants and loans specifically for small businesses and entrepreneurs in Ward 8, with a total of $800,000 going into the program.  

The fund is a partnership between the DC Community Development Consortium, the DC Department of Small & Local Business Development, Ward 8 Councilmember Trayon White, Ballard Spahr and others. 

Individual awards go up to $40,000, while a youth entrepreneurship grant for residents aged 14 through 21 is worth up to $2,000. 

Those interested can still attend virtual information sessions before the application window closes on June 30. 

Apply here

Climate tech firm adds new investors in Series A

The DC-based startup Crux recently landed new strategic investors for its Series A round, which is currently at $18.2 million.

The round is led by the prominent Silicon Valley firm Andreessen Horowitz, which the Washington Business Journal (WBJ) reported is currently looking for office space in DC. Strategic investors include clean energy developers Clearway Energy Group, EDF Renewables, Intersect Power and Pattern Energy. 

CEO and cofounder Alfred Johnson told Technical.ly in 2023 that Crux was developed in response to the Inflation Reduction Act. The firm, which launched in January of that year, developed a platform for clean energy developers and manufacturers to sell tax credits to third parties. The startup has raised more than $27 million in total in strategic and venture capital to date — a quality that led it to the top spot on Technical.ly’s 2024 DC RealLIST Startups roster.

“The market for transferable tax credits is fundamental to the energy transition. We are proud to partner with some of the leading companies in the industry to make this market deep, liquid, and efficient,” Johnson said in a statement. “We look forward to their strategic thought partnership as we all continue to drive innovation and growth for clean energy across the United States.”

Other DC-area raises and awards

State funding agency investments

More moves found in Securities and Exchange Commission filings


This article references Ballard Spahr and TEDCO, both of whom are Technical.ly clients. That relationship has no impact on this report.

Companies: University of Maryland, College Park / TEDCO / National Telecommunications Information Administration / Ballard Spahr
Series: Money Moves

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