Kofa, a Ghanaian-based energy tech company, has secured $8.1 million in a pre-Series A funding round to expand its battery-swapping network across Africa. The funding round, which comprised a mix of equity ($3.25 million), debt ($4.315 million), and $590,000 in grants, was led by E3 Capital and Injaro Investment Advisors, with support from the Shell Foundation and the UK Government’s Transforming Energy Access platform (TEA). Noteworthy European investors, such as Richard Thwaites, founder of Penso Power, also participated in the funding round. Who founded Kofa? The company was founded in 2022 by Erik
Kofa Technologies, a Ghanaian company specializing in portable clean energy solutions, has announced an expansion of its battery-swapping network, supported by a £6.15 million (approximately $5 million) initiative. The project, led by Kofa and impact investor PASH Global and backed by Shell Foundation, the UK Government, and PASH Global, aims to accelerate electric vehicle (EV) adoption and clean energy access in Ghana. EV Battery Swapping Kofa’s battery-swapping network aims to provide a sustainable, cost-effective solution to reduce urban pollution and boost EV adoption. The system allows users to swap depleted
