July 12, 2022

Kenya-Based Solar Panda Raises $8M In Series A Funding

Kenyan and Canadian-based solar energy platform, Solar Panda, has raised $8 million in Series A funding. The funding round was led by investors Oikocredit and Electrification Financing Initiative.

The pay-as-you-go solar home system was founded by Andy Keith in 2016, to help provide clean, affordable solar energy to rural communities in Africa. The platform has already provided more than 200,000 solar home systems to households across Kenya from its 37 retail branches.

“We are excited to partner with leading global impact investors Oikocredit and EDFI ElectriFI and thankful that this finding will help us ramp up our efforts at making electricity access universal,” said Andy Keith, founder, and CEO at Solar Panda.

“I’m very proud of the growth and success our team has been able to achieve over the past four years and, with nearly one billion people in the world without access to electricity, we feel we are just getting started.”

In a short period of time, Solar Panda has quickly become one of the fastest-growing companies in its sector. The platform has made electricity accessible for everyone with more families across the continent using the home systems for their work and play.

The investment will go towards helping the company further expand its services across Africa, providing more families with safe electricity.

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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.