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.
Opportunities
Morgan Stanley Inclusive Ventures Lab
NTEEP 4.0 Entrepreneurship Empowerment Project (Access to Entrepreneurship Training
Acumen Energy for Livelihoods Accelerator – East Africa 2024
