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Kofa, a dynamic startup based in Ghana, has secured funding to revolutionize the energy sector with its pioneering Battery-as-a-Service (BaaS) model.
In a bid to overcome the limitations of traditional energy storage systems, Kofa has set its sights on powering the nation’s future with a sustainable and innovative approach. Kofa’s game-changing BaaS model allows customers to access advanced battery technology without the hassle of upfront costs or ownership.
This transformative service allows residential and commercial clients to tap into the advantages of energy storage without bearing the burden of heavy capital investment. By proactively harnessing renewable energy sources, Kofa aims to bridge the gap between intermittent power supply and constant demand. Kofa’s recent funding round was led by Mercy Corps Ventures, Shell Foundation, UK’s FCDO (Foreign, Commonwealth & Development Office), and Wangara Green Ventures.
Kubik, an Ethiopian innovator in plastic upcycling for construction, has secured an additional $1.9 million in seed funding.
Kenyan health-tech startup Ilara Health has raised $4.2 million in a pre-Series A funding round, fueled by both debt and equity investments.
Swedfund, Sweden’s development finance institution, has committed $10 million to Novastar Ventures’ Africa People + Planet Fund III (NVIII), a venture capital fund targeting early-stage businesses in Africa.