Solar energy start-up, Oolu Solar, raised $ 8.5 million in Series B capital. The transaction was led by independent renewable energy developer RP Global.
Other additional investors also participated in the funding round, including Persistent Energy Capital (PEC), Shell’s impact investor, All On, Gaia Impact Fund and DPI Energy Ventures.
The startup specializes in providing affordable energy to rural and peri-urban areas in West Africa. With this investment, Oolu plans to expand its commodity offering to meet the needs of its customers and further develop its operations. The company operates in Nigeria, Senegal, Mali, Burkina Faso and Niger.
The operation is one of the largest fundraisers ever carried out in French-speaking Africa.
Trending
- The ECOWAS Bank for Investment and Development extends a XOF 10 billion line of credit to strengthen the private sector in Côte d’Ivoire
- 6th edition of the Financial Afrik Awards
- London-based Actis sells Java House to two private equity firms
- South Sudan’s Central Bank threatens to revoke Stanbic’s licence on airline row
- Passengers stranded in Nairobi as airlines suspend flights to Somalia
- Trump freezes foreign development assistance leaving African deals in limbo
- CMC Motors exits East Africa on challenging economic environment
- Kenyan startup raises $4.5 million toward sustainable tourism
Senegal: the start-up Oolu Solar raises 8.5 million dollars
Amadjiguéne Ndoye
journaliste économique, titulaire d’un Master II en Communication et Journalisme de l'Institut Supérieur des Sciences de l’Information et de la Communication de Dakar (ISSIC). Grande amatrice de lecture et de musique. Féministe dans l'âme et passionnée de mode.
Add A Comment
About us
Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, give meaning to statistics….
Contact us: redaction@financialafrik.com