Launched in 2010 and headquartered in London, BBOXX designs, manufactures, distributes and finances innovative solar systems to improve access to energy across Africa and the developing world.
Since 2010, BBOXX has provided off-grid electricity to more than 350,000 people in 35 countries around the world.
The fresh funds will be used to expand its presence in the existing markets, Kenya and Rwanda, and to hasten the provision of its licensed products and services in other markets, including the creation of three franchises in the West African countries of Cameroon, Ivory Coast and Nigeria.
The investment was secured from co-investors MacKinnon, Bennett & Company (MKB), ENGIE Rassembleurs d’Energies and KawiSafi Ventures.
“We are excited about the growth potential for the African off-grid solar market and delighted with BBOXX’s rapid development” said Laure Vincotte, Managing Director of ENGIE Rassembleurs d’Energies.
She added, “We feel that BBOXX’s technology is fully in line with ENGIE Rassembleurs d’Energies’ objectives of promoting sustainable and scalable energy solutions for all.”
Existing investors Khosla Impact Fund, Bamboo Finance and DOEN Foundation also participated in the funding round.
The startup is currently building its operational headquarters in Kigali, Rwanda where it has experienced swift growth. By the end of this year, it expects to be electrifying as many households as the Rwandan national grid.
“BBOXX is building the next generation of energy services – connected, distributed, renewable and focused on customer service. We see a strong opportunity for BBOXX’s licensed products and services to act as a foundation for a rapidly growing new sector in the global utility market,” said Patrick Bennett, VP at MKB.