in

The $3.2 Million Funding to Boost A Senegalese Solar Startup

Oolu solar Senegal

Oolu solar is a Senegalese solar startup company founded in 2015. It seeks to supply in-home solar kits which consist of two USB plugs and three adjustable lights powered by a battery, which can hold a charge for six hours under maximum output. Oolu solar offers installation services and other maintenance services like free battery replacement and system upgrades. Their costs are low monthly fees, which is paid through mobile money.

Based on its portfolio, Oolu is among the fastest growing off-grid startups in West Africa because most households in this region use expensive lighting solutions.

Recently, Oola solar startup secured a $3.2 million in Series A funding round from Y Combinator (YC), Persistent Energy Capital (PEC), and other seed investors. The founder and the CEO of Oolu, Dan Rosa appreciated the funding, stating that it would boost the company’s milestone at the time when they have realized some of the market opportunities across West Africa markets.

Co-founder and partner of PEC, Dirk Muench, was impressed with how the startup was able to explain their strategy and implement it. He believes Oolu’s team, vision, technology distinguishes and sets it as the trusted provider of solar products and services for the millions in the African households.

The YC-incubated startup intends to use money in investing in its current operations across Senegal and Mali and expand into a third market in 2018. Geoff Ralston, one of the YC partner acknowledged the quick and impressive growth of the startup considering the unpredictable and challenging market they are involved with, but the team is proving its strength to succeed through the challenging and ever-changing emerging market. He applauded these qualities linking them as the main reason for funding of this startup and foresees the business thriving.

What do you think?

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Written by Denis Opudo

Am an engineer who's a tech blogger, hit me up on dennis@techinafrica.com and we base our discussion on technology in Africa and the rest of the world.
Denis the Tech guru

Leave a Reply

Your email address will not be published. Required fields are marked *

Africa Code Week and SAP

An Initiative that Targets to Empower 600,000 Youths with Digital Skills by 2020

Alosab startup, Nigeria

How Alosab Rental Platform helps to reduce house hustle in Nigeria