Solaris Offgrid, a Valencia, Spain-based manufacturer of integrated solutions to foster affordable and sustainable energy access in off-grid areas, completed an over €1m equity funding round.
Backers included a group of European private investors.
The company intends to use the funds to continue to conduct R&D activities (based in Europe) and expand operations in developing countries.
Co-founded by Siten Mandalia, Thibault Lesueur, and Benjamin David, Solaris Offgrid designs and manufactures integrated and modular “pay-as-you-go” solutions to foster energy access in villages in developing countries and related business and technology services.
The company offers its solution to several organisations (in developing countries) which dedicate their efforts to:
– reproduce a solar system centred business model inspired by Solaris Tanzania;
– integrate its solution in their last mile delivery of small lamps, cookstoves and/or related services; and
– integrate its solution to their mini-grid in order to extend their reach beyond 2km radius.