Okra Solar Secures Funding to Fund Mesh Grid Expansion – pv magazine International

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Australian renewable energy startup Okra Solar has raised $3 million to expand the distribution of its solar hardware and software solutions. It aims to electrify more than 290,000 off-grid households in Nigeria over the next three years, while expanding its operations in countries like Haiti.

From pv magazine australia

Okra Solar’s mission to provide reliable renewable energy solutions to people living off-grid in developing countries has received a major boost, with the startup raising $3 million to accelerate the distribution of its grid-enabled mesh networks. the Internet of Things.

Launched in 2016, Okra has developed an AI-enabled mesh network that shares energy through an interconnected network of homes. Plug-and-play solar home system includes solar panel, battery and smart device. A cloud-based system monitors usage and required maintenance, while enabling remote control.

Currently, the company is focused on the Philippines, Haiti, Cambodia and Nigeria, which are home to the largest unelectrified population in the world, totaling approximately 80 million people. The funding was led by Singapore-based technology fund and advisory group SDGx, Schneider Electric Energy Access, the Autodesk Foundation, Explorer Investments and Didendum. Okra is also opening its Series A, aiming to raise an additional $6 million to help fund its expansion into other countries.

Zarmeen Parvi, head of impact at SDGx, said Okra Solar ticked all the boxes for the technology fund.

“It’s rare to see an Australian company scale so successfully across so many international markets so quickly,” he said. “Okra Solar brings an impact multiplier that intersects and contributes positively to energy access. It’s a great example of how an impact multiplier also drives scale with business results, while solving global GHG emissions and climate change issues.

Okra Solar CEO Afnan Hannan said the funding will be used to scale up business operations and product development in Nigeria and Haiti as the company seeks to expand.

“It’s great to lock in this funding so we can accelerate our growth,” he said. “We are delighted to continue charging to provide access to energy for the 770 million people living in off-grid communities. Our mesh networks leverage IoT and automation to make last-mile electrification affordable and sustainable… even for the most remote villages on the planet. Our innovation has driven global demand from utility companies.

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