Okra Solar raises $12M to power mesh-grid electrification in Africa ⚡⚡

Okra Solar raises $12M to power mesh-grid electrification in Africa ⚡⚡

#energy and natural resources
Cleantech startup, Okra Solar has raised a $12 million Series A to enable mesh-grid electrification in Africa. Over 700 million people worldwide still live without access to electricity, and with status quo efforts this number will increase by 2030. This challenge presents an opportunity for mesh grids, a technology that has rapidly established itself as a game-changer in this industry.

Okra Solar, a cleantech startup, has secured $12 million in a Series A funding round to support mesh-grid electrification in Africa. Mesh grids connect nearby houses to share power, making energy distribution more efficient and affordable. The funding includes $7.85 million in equity from At One Ventures and other investors, as well as debt financing from EDFi. Okra Solar, which has already deployed its mesh grids in several African countries, aims to provide last-mile energy solutions and help electrify rural areas. Mesh grids are considered a cost-effective solution for off-grid electrification, as they reduce distribution costs and maximize power availability. The company's goal is to contribute to achieving 100% electrification in off-grid areas by 2030.

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