Persistent Energy raises $10M to grow its clean-tech venture building business in Africa – TechCrunch
Enduring energy has raised $10 million in Series C funding to grow its clean tech venture building business in Africa, in a round led by Kyuden International Corporation, a subsidiary of Kyushu Electric Power Group of Japan and Africa Investments (FSD) are in charge of the financial sector.
The equity round also featured six new private investors, high net worth individuals and entrepreneurs including Kotaro Tamura, as well as existing investors including BK Ventures BV and DPI Energy Ventures Pte. Limit.
As an expert and investor in the renewable energy sector in Africa, Persently Energy will help startups build businesses that can “sustainably scale” from the start-up stage. beginning to the early growth phase. It does this by investing capital and human resources – where team members join and work alongside the management teams of portfolio companies. Perseverance has 20 partner companies spanning 17 countries in sub-Saharan Africa. The company has had two successful exits to date.
Commenting on the deal, Tobias Ruckstuhl, managing partner of Persently, said in a statement that the company will use the resources to accelerate development in sub-Saharan Africa in an effort to promote employment. application of clean energy technologies and options in this continent.
“More companies need to be founded and built to achieve the United Nations Sustainable Development Goals (SDGs) over the next 10 years. Kyuden and FSDAi are committed to our entrepreneurial climate venture building model,” said Ruckstuhl.
“By leveraging these strong partnerships, we will be able to accelerate our most pioneering construction venture investments, accelerating the transition to clean energy,” he said. promote e-mobility and seek innovative business models and technology developments across the continent.
The company also said it will use the new funding to strengthen its team.
Companies with an ongoing portfolio in the home solar system business, providing commercial and industrial solar solutions, providing e-mobility solutions or participating participate in the construction of the ecosystem.
In Africa, these companies include Solar Works, a decades-old business that supplies a wide range of solar energy products including Solar Homes Systems, the main product that powers residential homes. South Africa. Solar Taxi, an e-mobility startup from Ghana, was also recently added to the list of investment firms. Solar taxi designs, assembles and distributes two- and four-wheeled vehicles used for transportation and delivery services.
Oolu, BBOX, Rensource, Upowa, Altech, Ecoenergy, Candi, ecobodaa, Asobo and hohm energy, an ecosystem builder, are also part of its portfolio companies.