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Nigerian cleantech startup Rana Energy has secured a $3 million pre-seed investment to accelerate its expansion across Africa.
Founded in 2023 by engineers Abraham Mohammed and Mubarak Popoola, Rana offers businesses access to solar and battery storage infrastructure through a “Clean Energy-as-a-Service” subscription model, meaning no upfront installation expense for the customer.
The funding round combines US$500,000 of equity—backed by investors including Techstars, EchoVC Eco and angel investors Chinedu Azodoh and Tayo Bamiduro—with a US$2.5 million local-currency green debt facility arranged by Optimum Global and supported by FSDH Asset Management.
Rana says it has deployed approximately 1.3 MW of solar and storage capacity in Nigeria within its first 18 months of operation, achieving an uptime of around 99.9 per cent, cutting clients’ reliance on diesel by more than 80 per cent, and reducing their energy costs by up to 30 per cent.
Looking ahead, the startup aims to grow its installed base to 10 MW within the next year, targeting new customer segments such as battery swap stations, hospitals, supermarkets and industrial facilities. Additionally, it plans to expand beyond Nigeria into Ghana and Zambia.
“We have shown that sub-1 MW clean energy systems, when aggregated, can attract institutional capital, deliver strong returns, and drive measurable impact,” Abraham Mohammed said.
“By blending venture equity with structured green debt financing, we have built a replicable model for Africa’s energy transition.”
EchoVC Eco’s Managing Partner Eghosa Omoigui added:
“Rana represents everything we look for in climate infrastructure: exceptional founders solving a massive problem with breakthrough technology and innovative financing. Their AI-powered approach doesn’t just replace diesel with a clean substitute, it creates a neo-energy paradigm that will unlock billions in economic growth.”
Rana’s approach comes at a time when many African businesses rely heavily on diesel generators for backup power, which is expensive, polluting and unreliable.
By offering a subscription-based solar and storage alternative managed via an AI-driven digital network, the company is positioning itself as part of the solution to Africa’s energy-access and reliability challenge.
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Kenyan startup Keep IT Cool, known for its innovative and sustainable refrigeration solutions, has received funding from global impact investor Acumen to support its ambitious expansion across Africa.
