New post Thank you for 2021. Expecting a bigger you in 2022 Read More

GadgetsNewsStartups

Kenyan-based Start-up – d.light – Secures US$10m Equity Financing

1 Mins read

Kenyan based off-grid solar provider, d.light, has secured US$10 million equity financing from Proparco.

With the help of this funding, d.light is empowered to pursue the expansion of the company’s solar and Pay-Go consumer finance business round the African continent.

Speaking on the investment, Ned Tozun, co-founder and CEO of d.light explained that:

“We are excited to have Proparco as a d.light shareholder. Proparco’s alignment with our mission and commitment to job creation and development makes them an ideal partner for d.light as we begin our next phase of growth. We have great confidence that we will continue to accelerate and deepen this impact, as we expand our geographic footprint and product portfolio to delight our customers. The future is truly bright for d.light and the off-grid solar industry as a whole.”

Head of Equity, Proparco – Africa & Middle East, Damien Braud, said,

“Supporting companies dedicated to improving access to clean, reliable and affordable energy is one of Proparco’s top priorities. We are impressed by d.light’s track record in meeting evolving customer needs for access to electricity across both Africa and Asia.”

“Their experienced team has developed efficient sales and distribution channels in these markets and continues to expand their product range. We look forward to supporting the company to realize its growth ambitions.”

Founded in 2006 by Mr Tozun and Mr Goldman, d.light has been providing solar energy to several communities, covering more than 100 million people in 70 countries.

d.light prides itself with a range of extremely affordable products, from portable solar lanterns to solar home systems that can power multiple lights, mobile phones, and small appliances, including a flat-screen television.

Read also: Jack Ma Foundation Calls For Application for 2021 Africa’s Business Heroes

d.light’s solar products have received multiple international awards and recognitions for their innovation and design. The company claims its products are sold through more than 30,000 outlets around the world.

About Proparco

Proparco is the private sector financing arm of Agence Française de Développement Group (AFD Group).

The firm has been promoting sustainable economic, social and environmental development for over 40 years; providing funding and support to both businesses and financial institutions in Africa, Asia, Latin America and the Middle-East.

407 posts

About author
When I'm not reading about tech, I'm writing about it, or thinking about the next weird food combinations to try. I do all these with my headphones plugged in, and a sticky note on my computer with the words: "The galaxy needs saving, Star Lord."
Articles
Related posts
Fact CheckGadgets

Does refreshing your PC make it run faster?

3 Mins read
It has become some sort of a habit for a lot of people to press the F5 button when their computer is…
Startups

Kenyan-based Startup - Lipa Later - raises $12m in its Pre-series A funding round

1 Mins read
Kenyan-based consumer company, Lipa Later, has raised $12 million in its pre-series A investment funding round. The company, which runs a buy-now-pay-later…
News

#TwitterBan: Nigerian Government Lifts Twitter Ban

1 Mins read
Nigeria’s federal government has announced the lift on the ban placed on Twitter. The announcement was made by the Chairman Technical Committee…
Get powered up with Techpadi Newsletter

Be the first to know what's happening in the African tech space

Leave a Reply