Okra Solar Closes AU $3m Million in Pre-Series A round
Okra Solar has raised US $2.1 million to scale up their distribution of IoT-enabled Mesh-Grids in order to bring power to the 770 million people living off-grid globally.
June 24, 2022. By News Bureau
Okra Solar, an Australian renewable energy deep-tech company, and previous winner of the TechCrunch Hardware Battlefield, has raised US $2.1 million to scale up their distribution of IoT-enabled Mesh-Grids in order to bring power to the 770 million people living off-grid globally.
SYDNEY, June 23, 2022 /PRNewswire/ -- Two family offices, Explorer Investments and Didendum, led the $2.1 million investment round into Okra Solar, alongside Schneider Electric Energy Access & Autodesk Foundation.
SDGx, a private UN Sustainable Development Goals (SDGs) technology fund and advisory group, which invests exclusively in companies that can potentially reduce or remove 500MT of greenhouse gas emissions per year within the next decade, also invested.
Okra Solar's proprietary hardware and software solutions enable access to productive and renewable electricity across the Nigeria, Philippines, Haiti and Cambodia.
The $2.1 million funding will be used to scale up commercial operations and product development as Okra Solar expands throughout Nigeria and Haiti.
Afnan Hannan, CEO of Okra Solar says: "It feels great to lock in this funding so that we can accelerate our growth. We're excited to continue charging towards providing energy access for the 770 million people living in off-grid communities. Our Mesh-Grids leverage IoT and automation to make last-mile electrification affordable and sustainable - even for the most remote villages on the planet. Our innovation has spurred global demand from utility companies."
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