Gaia Impact Fund Completes Undisclosed Equity Investment in Innovex
Innovex raises funds from Gaia Impact Fund to expand its cooperation with solar energy providers in Africa.
Innovex Founders; Douglas Baguma and David Tusubira pose for a photo with a solar panel. (Courtesy Photo)
Innovex, Ugandan-based startup that provides digital solutions for the payment and remote monitoring of solar photovoltaic installations, concluded an equity investment in its capital with Gaia Impact Fund, a French investment fund dedicated to renewable energy.
The investment was undisclosed, however, Gaia believes that the funds injected into the company will be used to expand its digital services in the burgeoning solar energy market in Uganda and across Africa.
January 21 2021 / Modified on January 20 2021 Gaia Impact Fund has just completed an equity investment in Innovex. The Ugandan-based company provides digital solutions for the payment and remote monitoring of solar photovoltaic installations.
Innovex obtains funds to expand its cooperation with solar energy providers in Africa. The Ugandan-based company has concluded an equity investment in its capital with Gaia Impact Fund, a French investment fund dedicated to renewable energy. The terms of this investment have not been specified. However, Gaia believes that the funds injected into the company will be used to expand its digital services in the burgeoning solar energy market in Uganda and elsewhere in Africa.
December 28 2020 / Modified on December 28 2020 Solar home systems supplier Oolu has just raised 8.5 million dollars for the distribution of its electricity access equipment in West Africa. The funds were obtained from RP Global, All On, Persistent Energy Capital, Gaia Impact Fund and DPI Energy Venture.
It’s a gamble won for Oolu. The solar home systems provider is raising $8.5 million in a Class B fund raising to bring its electricity access solution to West Africa. The funds were raised from several investors, including RP Global, All On, Persistent Energy Capital, Gaia Impact Fund and DPI Energy Venture.
In rural and peri-urban areas of West Africa, the company, founded in 2015, distributes kits consisting of a solar panel and storage capacity to enable households to have electricity after dark. Its system also has terminals for recharging mobile phones. To date, the compa
Nigeria-Focused Energy Firm Closes $8 5 Million Investment Round allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Oolu, a Senegalese-based solar energy startup, has raised $8.5 million in Series B equity investment.
The round was led by independent renewable energy developer, RP Global. Other investors that participated include Persistent Energy Capital (PEC), Shell-seeded impact investor All On, Gaia Impact Fund, and DPI Energy Ventures.
In what can be seen as one of the largest rounds by a Francophone Africa-based startup, here’s what Daniel Rosa, co-founder and CEO of Oolu, said of the investment.
“The strength of our business and industry during a challenging global pandemic has demonstrated the value that customers see in our products and service. RP Global’s financial expertise and experience in managing renewable energy businesses will enable us to accelerate our growth.