BBOXX, a London, U.K.-based provider of off-grid solar systems in Africa, raised $50m in Series D funding.
The round was led by Mitsubishi, with participation from ENGIE Rassembleurs d’Energies, Bamboo Capital Partners, DOEN Participaties, and MacKinnon, Bennett & Company (MKB).
The company intends to use the funds for its expansion across Africa, where it currently operates in 12 countries, and Asia.
Led by Mansoor Hamayun, CEO and Co-founder, BBOXX offers pay-as-you-go solar power powering modern utility services, such as cooking, internet access and water. At the core of the solution, there is a management platform, called BBOXX Pulse, which continuously collects data and insights.
The company has installed more than 200,000 solar home systems, which are remotely monitored via BBOXX Pulse™, a digital platform that harnesses Internet of Things technology and data to provide utilities at a large scale, in Rwanda, Kenya, the Democratic Republic of Congo and Togo.
The business have over 600 employees across 9 global offices Rwanda, Kenya, the Democratic Republic of Congo and Togo, with its head office in the UK and its manufacturing operations based in China.