UK and Tanzania-based pay–as-you-go solar energy solutions provider Solaris Offgrid has raised over €1M to fund R&D and grow into new markets – providing more homes and businesses with affordable, clean energy.
The firm will use the funding to launch its operations across the developing world and in continuing to create new, modular and scalable solutions for partners and customers.
Siten Mandalia, co-founder of Solaris Offgrid, said, “We’re proud to have brought clean and safe electricity to almost 10,000 people, across six countries, since we began operations three years ago. But that’s just the beginning. This latest round of funding will prove crucial as we work towards our ambition of providing power to 10 million people by 2022.”
With operations in Kenya, Uganda, Nigeria, Benin and Senegal, Solaris Offgrid designs and manufactures solutions for field partners, enabling them to provide affordable and sustainable energy access in off-grid areas. Solaris Offgrid combines its offer of modular hardware with tailor-made business support and cutting-edge proprietary cloud software – meaning that its partners have access to the exact solution that best meets their needs.
The funding came from new investors InnoEnergy; rural electrification fund, GAIA Impact Fund; and impact investment fund, Zubi Labs.
Hélène Demaegdt at GAIA Impact, says: “We’ve been impressed by Solaris Offgrid’s flexible mind-set and focus on innovation. With this latest funding, we believe the company is now in a strong position from which to accelerate its growth into new areas, create long-term value for its shareholders and stakeholders, and positively impact the lives of millions affected by energy poverty in Africa.”
By the end of 2022, Solaris expects to have installed over 350,000 products into homes and businesses and provide software services for partners to manage a further 1.3 million households’ solar home systems. Based on the estimation that six people live in each home or business, the company predicts they would have reached 10,000,000 people.