Off Grid Electric receives $25 Serie C funding to power Africa

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Off Grid Electric receives $25 Serie C funding to power Africa

Off-Grid Electric, the world’s leading off-grid energy provider, closed a Series C investment worth $25 million on Wednesday to expand its micro-solar leasing platform in Africa.

The round was led by DBL Partners, which provided the majority of the funding, and also included Western Technology Investment and previous investors SolarCity, Omidyar Network, Serious Change LP and Vulcan Capital, the private investment firm of Microsoft co-founder Paul Allen. 

Last year, Off Grid Electric announced the closing of a $23 million funding round led by Zouk Capital, SolarCity and Vulcan Capital.

The new funds will be used to enter its second African market, Rwanda, and to continue to scale up its partnership with the Tanzanian government to power 1 million homes by 2017. 

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.