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Shell-founded startup fund receives $13 million from Canadian DFI to accelerate clean energy access in Africa. Sub-Saharan Africa accounts for 75% of the world’s population with no access to renewable energy solutions and electricity. Sun King has previously raised $170 million in equity and debt funding.
The Off-Grid Energy Access Fund (FEI-OGEF), Cordaid, and Qotto’s existing investors also participated in the round. Sun King raises $260M to widen clean energy access in Africa, Asia Founded in 2016, Qotto designs and distributes stand-alone solar kits and lanterns to individuals residing in the least electrified regions of Africa.
The company plans to have additional technological and business model innovations, and the use of AI and IoT to remotely manage its fleet. Sub-Saharan Africa accounts for 75% of the world’s population with no access to renewable energy solutions and electricity. Image Credits: Husk Power Systems.
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