New Investments

Beacon Power Services Secures Series A Funding to Expand to Eastern and Southern Africa

Beacon Power Services (BPS), an innovative energy technology company, has successfully secured funding through a Series A financing round.

The company aims to extend its impact across Eastern and Southern Africa.
 
Partech led the funding round, which received substantial support from FinnFund, Gaia Impact, Proparco Group, Kaleo Ventures, Seedstars Africa Ventures, Clermount, Global Brain, its corporate venture capital partner JCG Mirai, and On Capital.

This strategic investment will equip BPS with essential resources and partnerships to enhance its footprint in Africa’s energy sector and tackle critical infrastructure challenges in power supply.
 
Founded in 2013 by Bimbola Adisa, BPS is dedicated to optimizing Africa’s electrical grid through data-driven solutions and grid management tools, enhancing service reliability and efficiency across the continent.

In sub-Saharan Africa, where over 600 million people—approximately 43% of the population—are without access to electricity, the need for efficient power solutions is urgent.
 
While nations like Ghana, Rwanda, and Kenya are making strides toward universal electricity access by 2030, countries like Nigeria face ongoing grid instability, with the national power grid collapsing several times this year.

BPS has developed two AI-powered digital mapping tools to address such challenges.
 
The Customer and Asset Information Management System (CAIMS) organizes and structures data for improved service delivery, while Adora provides real-time tracking and management of power distribution, helping to reduce outages and streamline operations.

BPS currently serves more than 5 million people through partnerships like that with the Electricity Company of Ghana (ECG), which reported a twofold increase in revenue over two years due to BPS’s solutions. In early 2024, ECG also launched a mobile application for streamlined access to electricity services.

Expanding across Nigeria, Ghana, Kenya, and Zambia, BPS draws on a global team and data-centric strategies to serve over 50 million customers, supported by a workforce of more than 200 employees.

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