What is SolarNow?
SolarNow BV operates as a pivotal player in the East African renewable energy landscape, specializing in comprehensive solar energy solutions. The company addresses the dual challenges of high electricity costs and unreliable grid supply by providing tailored, sustainable power systems for off-grid and underserved markets. With over 12 years of operational experience, SolarNow has successfully transitioned 50,000 customers toward clean energy, demonstrating a robust capacity for project execution ranging from residential installations to large-scale 1.2 MW power projects. Their business model is defined by a client-centric approach, emphasizing quality engineering and long-term support, which has established them as a trusted partner for businesses and institutions seeking energy independence.
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 Novastar Ventures and Acumen
Private Equity (2015): $800K led by SunFunder
Debt (2016): $2M supported by SunFunder
Debt (2017): $6M featuring responsAbility Social Investments, SunFunder, and Oikocredit
Series B (2017): $9M backed by Royal Dutch Shell and Novastar Ventures
Key Investors in SolarNow
Royal Dutch Shell
Shell plc is a global energy and petrochemicals company that provides lower-carbon energy solutions, including renewable power, hydrogen, and electric-vehicle charging infrastructure.
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 working capital loans, receivables financing, and project financing to manufacturers and distributors that provide solar energy in emerging markets.
What's next for SolarNow?
Looking ahead, SolarNow is poised to leverage its recent strategic investment to deepen its penetration in the East African market. The company's focus remains on scaling its technical infrastructure and enhancing its service delivery model to meet the rising demand for reliable, sustainable power. By maintaining its commitment to ESG principles and high-impact energy solutions, SolarNow is likely to explore further operational efficiencies and potential expansion into adjacent markets. The continued support from impact-focused investors suggests a long-term strategy centered on sustainable growth, financial inclusion, and the acceleration of the regional transition to renewable energy sources. As the company matures, its ability to navigate the complexities of the energy sector while maintaining a 100% customer-centric focus will be the primary driver of its future valuation and market influence.
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