The Gateway to Africa's Startup Ecosystem
The Gateway to Africa's Startup Ecosystem

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

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.


Hohm Energy

Funding round: Seed ($8 Million)

Investors:  E3 Capital, 4DX Ventures, Breega, E4E Africa, Musha Ventures, Climate Capital Ventures,, 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.


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


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. 


Morgan Stanley Inclusive Ventures Lab

Rockstart Startup Fund

NTEEP 4.0 Entrepreneurship Empowerment Project (Access to Entrepreneurship Training

Acumen Energy for Livelihoods Accelerator – East Africa 2024

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