BBOXX secures $6 mln to bring solar power to more households in Africa
British-based solar energy provider BBOXX has completed a significant funding round of approximately $6m, which will accelerate the company’s vision of improving access to energy across Africa and the developing world.
Sources close to BBOXX reveal that in Europe, 4,400 single investors took part in the crowdfunding, investing an average of €500-€600.
BBOXX’s goal is to “speed up the installation of domestic solar kits in Togo, Kenya, Rwanda, DRC, Mali, Senegal and Guinea.”
The investment will also accelerate the provision of licensed BBOXX products and services in other markets, including the creation of franchises in the West African countries of Cameroon, Côte d’Ivoire and Nigeria.
The fundraising, the largest ever via crowdfunding in Africa for solar power, should benefit more than 200,000 people with no or limited access to power in these countries.
“Hundreds of millions of people in Africa still live without electricity. Our collaboration with Trine helped us reach out to single investors that share a vision which is to transform the lives of these people by providing them sustainable energy,” Mansoor Hamayun, CEO and Co-founder of BBOXX said.
The UK-based energy solution provider is leading the solar revolution with innovative products and unique business model.
The company has grown quickly with over 500,000 customers worldwide and 100,000 products in service since it was founded in 2010.