- Beacon Power Services (BPS), an energy-tech startup, has raised undisclosed funds through a Series A financing round to expand its services into Eastern and Southern Africa.
- Partech led the funding round, with participation from FinnFund, Gaia Impact, Proparco Group, Kaleo Ventures, Seedstars Africa Ventures, Clermount, Global Brain and its CVC partner, JCG Mirai, and On Capital.
- Partech's investment will offer the startup the necessary partnerships to scale its operations and gain a foothold in the African power sector.
Beacon Power Services, founded in 2013 by Bimbola Adisa, provides data-centric and grid management solutions to Africa's electrical challenges, ultimately driving efficiency across the continent's power sector.
Currently, 600 million people (43% of the total population) lack access to electricity, with most in sub-Saharan Africa. While most struggle to curb electricity challenges, countries like Ghana, Rwanda and Kenya have a more stable journey to full access by 2030. For Nigeria, however, the power sector has been on the hot seat, with the national power grid collapsing more than six times this year, 2024.
To address challenges in the power sector, the startup developed two AI-powered digital mapping tools: Customer and Asset Information Management System (CAIMS) and Adora.
While CAIMS efficiently collects and organises data, driving smarter service delivery, Adora enables live tracking and power distribution management, enhancing operational efficiency and reducing outages.
BPS has expanded into several African markets, delivering power to over 5 million customers through the Electricity Company of Ghana (ECG), helping the company double its revenue in just two years. In February 2024, ECG even launched a mobile application for electricity services.
With roots in Nigeria and Ghana, BPS leverages its global team and flexible data-centric solutions, prioritising operational and R&D enhancements in its continuous growth and service to its 50 million customers, and employs over 200 people across Nigeria, Ghana, Kenya, Zambia, and the United States.
For global VC Partech, this is part of its goal for the Partech Africa Fund II, deploying capital and offering assistance to startups across various stages of their journey.
“With an exceptional track record in transforming grid management for utilities in Nigeria and Ghana, Beacon Power Services has established itself as a leader in addressing Africa’s energy challenges through data-driven solutions.
“We believe in the potential of African founders to solve the continent’s most pressing issues, and BPS embodies the type of company our Partech Africa Fund II was created to support. We look forward to partnering with BPS as they scale their operations and increase their impact across Africa.” Cyril Collon, General Partner at Partech, concludes.
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
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