Ecosystem Insider

Issue #100: South African Hohm Energy raises $ 8m seed fund, Arnergy secures $3m while Mamamoni obtained $270k

February 26, 2024

Last week, we recorded only three funding activities which marks the lowest number recorded in a week so far this year. During the week, Energy-focused startups, Hohms Energy and Arnergy raised $ 8 million and $ 3 million respectively while Mamamoni secured $270k to improve its women-focused fintech solution.

Funding

Hohm Energy

Funding round: Seed ($8 Million)

Investors: E3 Capital, 4DX Ventures, Breega, E4E Africa, Musha Ventures, Climate Capital Ventures, TO.org, Tekton Ventures, Sunu Capital.

Founded: 2021, South Africa

Founders: Tim Ohlsen, Emir Gluhbegovic

Products: Hohm Energies operates a solar Marketplace that connects solar product suppliers & installers in South Africa to homeowners and businesses. In addition, the company offers value-added services like bespoke project management- assessing the solar energy needs of a customer and providing customized solutions.

What Next?: Fuelled by the funding, Hohm Energy will intensify efforts to further its mission of making solar more accessible and affordable to Africans.

Arnergy

Funding round: ($3 Million)

Investors: All On,

Founded: 2013, Nigeria

Founders: Femi Adeyemo, Kunle Odebunmi

Products: Arnergy provides sustainable energy solutions intended to deliver clean and reliable energy for homes and businesses. The company’s solutions are aimed at tackling intermittent and grid unreliability issues.

What Next?: Fuelled by the funding, the company is set to expand its operations to include leasing out solar power-generating equipment

Mamamoni

Funding round: $270,000

Investors: Challenge For Youth Employment (CFYE).

Founded: 2014, Nigeria

Founders: Nkem Okocha

Products: Mamamoni is a fintech company that empowers low-income women in Nigeria with the skills and credit facilities to become entrepreneurs and attain financial independence. It has also launched Herpay, a payments app targeted at women, allowing them to enjoy lower transaction fees.

What Next?: Fuelled by the funding, the company plans to expand its agent network to more than 2,000 women by the end of 2024.