This archive report was first published on 20 December 2019.
Published on December 20, 2019, Rensource, a Nigerian solar-power startup, has secured $20 million (KSh2 billion) in its Series A round of funding to expand its off-grid solar power services.
The funding, which was led by CRE Venture Capital and the Omidyar Network, among other investors, will enable Rensource to expand its services to as many as 20 urban markets within 18 months.
As part of its expansion plans, Rensource aims to launch its Spaces Offline to Online platform for supply-chain services, including business-analytics and working capital options.
The company will also install voltage and battery systems and smart meters to enhance its services.
Rensource is a renewable energy company that builds and operates solar-powered micro-utilities that provide electricity to commercial community structures, such as open-air trading bazaars.
