Powerhive, a Berkeley, California-based energy solutions provider for emerging markets, raised $20m in Series A funding.
The round was led by Prelude Ventures with participation from Caterpillar Ventures, Total Energy Ventures, Tao Capital Partners, Pi Investments and other private investors.
The company intends to use the funds to expand into new markets in Africa and the Asia-Pacific, as well as continue to grow in Kenya where it has operated rural microgrids since 2012.
Led by CEO Christopher Hornor, Powerhive leverages proprietary technology platform to develop and operate portfolios of renewable microgrids that supply affordable, reliable, and productive electricity to off-grid communities in emerging markets.
Last month, the company received an $11M equity investment for its main project, which will serve approximately 90,000 people in Western Kenya to support the use of productive equipment and vital community services such as health clinics and schools.
Powerhive has offices in Nairobi and Manila, and received early backing from First Solar.