What is SolarNow?
SolarNow BV operates as a specialized provider of solar energy systems, focusing on the unique requirements of businesses, healthcare institutions, and agricultural sectors in East Africa. By offering high-quality engineering and client-centered solar transitions, the company mitigates the risks associated with unreliable electricity supply and high operational costs. Their market position is characterized by a deep-rooted commitment to sustainable development, leveraging over 12 years of regional expertise to provide scalable, off-grid energy solutions that empower local communities and drive economic productivity.
How much funding has SolarNow raised?
SolarNow has raised a total of $20.3M across 5 funding rounds:
Private Equity
$2.5M
Private Equity
$800K
Debt
$2M
Debt
$6M
Series B
$9M
Private Equity (2014): $2.5M with participation from Acumen and Novastar Ventures
Private Equity (2015): $800K led by SunFunder
Debt (2016): $2M supported by SunFunder
Debt (2017): $6M featuring responsAbility Social Investments, Oikocredit, and SunFunder
Series B (2017): $9M backed by Royal Dutch Shell and Novastar Ventures
Key Investors in SolarNow
Novastar Ventures
Novastar is an investment manager focused on fueling an entrepreneurial revolution in Africa, partnering with bold initiatives that benefit both people and the planet.
SunFunder
SunFunder provides specialized financing solutions, including working capital and project loans, to solar energy providers operating in emerging markets across Africa and Asia.
Royal Dutch Shell
Shell is a global group of energy and petrochemical companies dedicated to meeting the world's growing demand for energy in economically and socially responsible ways.
What's next for SolarNow?
With the recent infusion of capital, SolarNow is well-positioned to expand its footprint and enhance its technological infrastructure. The strategic focus will likely shift toward optimizing supply chain efficiencies and deepening market penetration in existing territories. As the company matures, the integration of advanced energy management systems and the potential for larger-scale institutional projects will be critical to maintaining its competitive advantage. The continued support from impact-focused investors suggests a long-term commitment to both financial performance and the broader goal of energy democratization in emerging markets.
See full SolarNow company page
