Off-grid solar start-up Bboxx lands $20m Series C
Funding will allow solar energy company to tailor its products to local markets and explore new products
Bboxx, the off-grid solar energy start-up, has secured $20m in Series C funding from French energy company Engie, MacKinnon, Bennet & Company and KawiSafi Ventures.
Founded in 2010, Startups 100-featured Bboxx delivers electricity to off-grid locations in developing countries around the world. It currently sells around 200 systems per day, that come with a 50-watt roof-mounted solar panel, lead-acid battery, phone chargers and LED lights.
The investment will allow Bboxx to tailor its products to local markets, explore new products that rely on “more than just solar” and expand into West Africa. Currently operating 36 retail outlets in Kenya and Rwanda, it expects to scale up to 400 in those two countries and beyond within the next two years.
Mansoor Hamayun, CEO of Bboxx, said: “We want to provide the on-grid experience in the off-grid world. We’re as much an appliance business as we are an electric business.”
Laure Vincotte, managing director of Engie Rassembleurs d’Energies, commented: “We are excited about the growth potential for the African off-grid solar market and delighted with Bboxx’s rapid development.”