upOwa, a Pay-As-You-Go solar energy startup based in Cameroon has raised $2.7 million funds. The startup will use the fund to scale its growth and expand its services to other local communities in Cameroon.
upOwa is a leading solar energy startup that offers affordable PAYG energy in East Africa. The startup provides clean energy for low-income earners and small communities to enhance the survival of such businesses. The startup’s current aims to provide affordable power for more than 1 million homes by 2022.
Thus, in tandem with its 1 million vision, the company has raised $2.77million from investors. The fund was led by UK-backed Renewable Energy Performance Platform (REPP) and French Family Office, Colam Impact.
See Also: PEG Africa Raises $4mn to Offer its PAYG Energy Services in Senegal
The startup also raised a crowdfunded equity fund from INCO, Gaia Impact, Persistent and Paris investor, LITA.co.
The newly raised fund will also be used to expand its market base in Cameroon and provide affordable off-grid solutions to households.
The Chief Executive Officer upOwa, Kilien de Renty lauded the speedy growth of the off-grid startup. He also praised the investors that participated in its funding. He noted that the investor will open access to debt funding for the startup and contribute to the startup’s growth in East Africa.
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