LeapFrog Investments led a $70 million equity investment in Sun King, which sells solar energy products that off gridgrid in Africa and Asia.
This is an increase to the solar startup’s $260 million Series D round, which was announced in April. BeyondNetZero led the round.
Since it started, Sun King has raised more than $550 million in debt and equity, and its Series D round is now over at $330 million.
More broadly, Sun King stated that, since its inception in 2007 by CEO Patrick Walsh and Anish Thakkar, the company’s products had brought electricity and light to 95 million people in its African and Asian markets, including those of Togo, Cameroon, and Mozambique,
Thakkar says, “We are glad that LeapFrog is giving money to Sun King to help increase access to clean solar energy.” LeapFrog has a lot of experience meeting client needs in countries where we are trying to make solar energy solutions easy for everyone to use.
The company has been in business in Kenya for more than ten years and says it gives solar power to more than 165,000 homes in eight other African countries every month.
The company says that its network of more than 20,000 field agents, of which 36% are women, has made it possible for more than $500 million to be used to buy solar energy.