A blockchain-based solar micro-leasing marketplace, The Sun Exchange has secured a $500,000 seed investment from Alphabit. The company invests in companies that solve real-world problems by applying blockchain and decentralisation.
Alphabit CEO, Liam Robertson said in a statement that with technology that has the potential to disrupt two of today’s most dysfunctional centralised global systems — energy and finance — that he’s convinced that Sun Exchange will be “one of the best equity investments Alphabit has made to date”.
In July, The Sun Exchange announced a partnership with the Leonardo DiCaprio-backed Powerhive (a mini-grid solutions provider), aiming to leverage the Sun Exchange platform to deliver electricity for up to 175 000 people in Kenya currently living without power.
In May, the UN Development Programme announced it is partnering with Sun Exchange to pilot blockchain-based finance for solar in Moldova.
While commenting about the development, Sun Exchange founder, Abraham Cambridge said that the start-up is “delighted” to have the support of Alphabit’s team of blockchain industry visionaries.
“Their investment will significantly accelerate our growth and progress towards our goal of solar powering the world through the crypto-economy,” he said.
