Solaris Offgrid Raises Funds for Expansion
Friday, June 16, 2017  Printer Friendly Email this article

Solaris Offgrid has raised more than €1 million to expand operations in new developing countries, including Africa, India and Southeast Asia. The company’s pay-as-you go modular, integrated technology offers the flexibility to be scaled up from basic lighting to full-service communications, refrigeration and productive solutions.

Unlike other players in the industry, Solaris Offgrid combines its offer of modular hardware with cutting edge proprietary cloud software that sends automated user feedback to the company’s back-office, enabling them to offer tailor-made business support and personalized mentoring to rural entrepreneurs to maximize their revenues.

The company has been receiving business advisory support from Energy 4 Impact, a non-profit organization that supports local businesses that provide energy access to off-grid communities in Africa, over the last two-and-a-half years through a number of strategic advisory engagements. More recently it has sustained its fundraising process by offering capital raising advisory with feedback on the financial model, transactional advisory on company valuation and term sheet review.

A number of European private investors have backed this latest funding round, including InnoEnergy, Renovafrica, GAIA Impact Fund and Zubi Labs. The funding will be used to support the company both in growing into new markets across the developing world and in continuing to create new, modular and scalable solutions for partners and customers.

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