Off-Grid Electric, a Tanzania-based provider of solar lighting technology to remote African areas, has raised $16m in series B funding from investors including solar installation company SolarCity, TechCrunch has reported.
Venture capital firms Vulcan Capital and Zouk Capital also contributed funding. SolarCity and Vulcan previously took part in the company’s $7m series A round in March this year.
Off-Grid operates through what it calls a ‘micro-solar leasing’ model, similar to that employed for mobile phones. Customers pay a small installation fee before accessing the lighting, and enough energy to charge small appliances, through small pre-payments
The cash will be used to hire additional workers to install the solar equipment, and could potentially form local vocational schools in order to train workers. It also plans to enhance its hardware and software.
– Photo courtesy of Off-Grid Electric