August 9, 2022

Black-Owned Energy Platform Raises $2.7M To Improve Electricity In Africa

Lagos-based utility company, Beacon Power Services, has closed a seed round of $2.7 million. The funding round led by Seedstars African also saw venture capital firms Keeple Africa Ventures, Factor[e], and Ordiun Capital Management participate in the funding round. 

Beacon Power Services, founded in 2013 by Bimbola Adisa, is a leading provider of data and grid management solutions for Africa’s power sector. The platform, established to address Nigeria’s inadequate electricity supply, aims to enhance energy access for Africa’s cities significantly. Beacon Power’s primary goal is to improve the quality and duration of electricity supplied to Sub-Saharan cities. 

The platform uses an easy-to-use platform to manage energy infrastructure, billing, installations, and logistics. The software offers real-time visibility of network performance for electric utilities. It allows energy providers to pre-empt outages and identify network losses to ensure electricity is distributed more efficiently. 

“Africa is home to the fastest growing cities in the world, but when most people think of energy access in Africa, they think of the rural areas with little or no access to electricity at all,” said CEO Adisa. 

“When we realized that solutions designed for mature markets fail to address the unique infrastructure challenges Africa faces, we developed a tailored solution for power companies on the content to improve daily grid supply of electricity.” 

The new funding will enhance BPS’s current products and expand its network to reach more countries across the continent.  

Kumba Kpakima

Kumba Kpakima is a reporter at POCIT. A documentary about the knife crime epidemic in the UK got her a nomination for the UK's #30toWatch Young Journalists of the Year.