Beacon Power Services, an energy technology business based in Nigeria that offers grid management and data solutions to assist Africa’s power sector distribute electricity more effectively, received an undisclosed sum of Series A funding to grow into new markets and improve its product offerings.
After raising an undisclosed amount of Series A funding in a round led by Partech and including Finnfund, Gaia Impact, Proparco Groupe AFD, and former investors Kaleo Ventures and Seedstars Africa Ventures, Beacon, which has already experienced significant growth in Ghana, is now poised for further expansion. Clermount, Global Brain and its CVC partner JGC MIRAI Innovation Fund, and On.Capital are among the other investors in the round.
By offering data-driven solutions tailored to the particular requirements of the continent’s power industry, Beacon Power Services revolutionises the way African utilities oversee the grid.
An AI-enabled digital mapping (GIS) and address platform called CAIMS (Customer and Asset Information Management System) assists utilities in better collecting and organising data. This enables utilities to provide millions of consumers with improved service by making more informed decisions based on data. In contrast, ADORA provides real-time grid monitoring and control, assisting utilities in improving operational effectiveness and better managing their power distribution to lower outages.
“We are at the forefront of transforming Africa’s energy infrastructure through advanced software that enables utilities to deliver more reliable electricity, optimise their operations, and decrease reliance on diesel generators. Central to our approach is providing real-time insights and actionable intelligence to utility companies across the continent. Energy challenges faced, especially in urban centres, cannot be resolved without the right data, which is the foundation of all our solutions,” said Bimbola Adisa, founder and CEO of Beacon.
“With an exceptional track record in transforming grid management for utilities in Nigeria and Ghana, Beacon Power Services has established itself as a leader in addressing Africa’s energy challenges through data-driven solutions,” said Cyril Collon, general partner at Partech. “We believe in the potential of African founders to solve the continent’s most pressing issues, and BPS embodies the type of company our Partech Africa Fund II was created to support. We look forward to partnering with Beacon as they scale their operations and increase their impact across Africa.”
Beacon has grown significantly since its 2022 seed round, today employing more than 200 individuals in the US, Nigeria, Ghana, Kenya, and Zambia.
Beacon will be able to expand into new markets in Eastern and Southern Africa, support the expansion of its current operations, and improve its product offerings thanks to the funding.
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