Okra Secures $12 Million Series A to Power Mesh-Grid Electrification in Africa
Okra, a solar technology company bringing solar power to grids in developing areas, has raised $12 million in Series A funding.
The round was led by One Ventures, with participation from FMO, Susquehanna Private Equity Investments LLP, Autodesk Foundation and King Philanthropies.
Okra’s technology uses a mesh-based solar solution that re-apports excess energy based on proximity.
This means that rather than redirecting energy flow to a centralized area, it prioritizes neighboring homes. This helps increase efficiency while decreasing costs, which are especially important in developing markets.
The company plans to use the funding to expand its operations in India and Africa. It also plans to develop new products and services that will help to make solar power more affordable and accessible to people in developing areas.
Okra’s technology has the potential to make a significant impact on the global energy landscape.
The funding from One Ventures and other investors will help Okra to scale its operations and reach more people with solar power.
With this new funding, Okra is well-positioned to make a significant impact on the global energy landscape.
The company is poised to bring solar power to millions of people who currently lack access to electricity, and it is helping to make the future of energy clean and decentralized.
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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
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