Solar energy start-up, Oolu Solar, raised $ 8.5 million in Series B capital. The transaction was led by independent renewable energy developer RP Global.
Other additional investors also participated in the funding round, including Persistent Energy Capital (PEC), Shell’s impact investor, All On, Gaia Impact Fund and DPI Energy Ventures.
The startup specializes in providing affordable energy to rural and peri-urban areas in West Africa. With this investment, Oolu plans to expand its commodity offering to meet the needs of its customers and further develop its operations. The company operates in Nigeria, Senegal, Mali, Burkina Faso and Niger.
The operation is one of the largest fundraisers ever carried out in French-speaking Africa.
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Senegal: the start-up Oolu Solar raises 8.5 million dollars
Amadjiguéne Ndoye
Economic journalist with a Master’s degree in Communication and Journalism from the Higher Institute of Information and Communication Sciences in Dakar (ISSIC). Avid reader and music enthusiast. Feminist at heart and passionate about fashion.
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