Beacon Power Services (BPS), whose mission is to expand access to electricity throughout Africa, has completed a seed round of funding for $2.7 million.
Origin Capital Management, Persistent Energy, Kepple Africa Ventures, and Factor[e] were among the investors who participated in the seed round, which Seedstars Africa Ventures led.
Beacon Power Services was established in 2014 by Bimbola Adisa to supply the power industry in Africa with data solutions and grid management software. The purpose of establishing the corporation was to broaden and improve the availability of electricity across the continent.
Beacon Power Services will modernize its product by incorporating automation and adding new features with the help of the new finance it has received. In addition, the company has aspirations to enter additional markets in addition to the ones it is now operating in, Ghana and Nigeria.
BPS grants users access to real-time operational data, which enables them to conduct energy audits, improve grid efficiency, and expand their businesses’ revenue streams.
In addition, it gives consumers the ability to exert full control over their energy infrastructure and handle not just invoicing but also installations and logistics. In addition, the customer and asset inventories may be successfully managed at scale using big data technologies.
The company started as a single utility in Nigeria and has since expanded to four utilities across two nations, including Ghana. It now serves over 8 million clients, including residential and commercial establishments.
Beacon Power Services’ business model does not only consist of selling items; instead, it emphasizes developing long-term partnerships with customers. The company claims that it has affected more than 30 million customers and enterprises, that it processes over two hundred million transaction points and Datagrid daily, and that it is making preparations to exceed these numbers in a relatively short amount of time.