Rana Energy, an AI-powered Clean Energy-as-a-Service ecosystem, announced the successful close of its $3 million pre-seed funding round. With 600 million Africans still lacking reliable access to electricity and over $35 billion spent annually on back up diesel generators, Rana is accelerating Africa’s transition to clean, affordable, and reliable energy.

The round comprises $500,000 in equity from Techstars, EchoVC Eco, and leading angel investors, including Chinedu Azodoh and Tayo Bamiduro (co-founders of MAX), alongside a $2.5 million local currency green debt note arranged by Optimum Global and backed by FSDH Asset Management.

Founded in 2023 by engineers Abraham Mohammed and Mubarak Popoola, Rana Energy is pioneering Africa’s AI-driven digital utility. At its core is VSN (Virtual Solar Network), an intelligent ecosystem that forecasts energy demand, aggregates solar and storage projects into investable portfolios, and remotely manages distributed clean energy assets. For communities and businesses, Rana provides clean energy subscriptions with no upfront costs, driving immediate savings and long-term impact.

“Before Rana, we were spending over ₦2.5 million monthly on diesel at our Physiotherapy clinic. Now, we have 24/7 clean power at 25% less cost, and our patients know they can count on us during emergencies,” said Dr. Boroji Osindero, Medical Director at Wellness Centre, Lagos.

A Platform Built for Scale

Rana Energy Solar Carpark installation  at National Defence College, Abuja, Nigeria

“Execution is everything in this market, and Rana delivers at lightning pace,” said Mubarak Popoola, Co-Founder and CTO of Rana Energy. “In just 18 months, we’ve deployed 1.3 MW of solar and storage capacity across Nigeria, achieving 99.9% uptime, reducing diesel dependence by over 80%, and slashing energy costs by up to 30% for our clients. From federal institutions to frontline businesses, we are proving that reliable clean energy is not just possible, it is inevitable. Rana’s AI-powered ecosystem is built to scale intelligently, because energy should be a right, not a luxury.”

With this funding, Rana plans to expand its VSN asset base to 10 MW over the next 12 months, powering battery swap stations, hospitals, supermarkets, and industrial facilities across Nigeria, Ghana, and Zambia. These assets are expected to avoid over 450,000 kg of CO₂ emissions annually, proving that distributed, AI-managed energy infrastructure can be scaled and sustainably across Africa.

“We have shown that sub-1 MW clean energy systems, when aggregated, can attract institutional capital, deliver strong returns, and drive measurable impact,” said Abraham Mohammed, Co-Founder and CEO of Rana Energy. “By blending venture equity with structured green debt financing, we have built a replicable model for Africa’s energy transition, where every $1 deployed generates over $10 in local economic value, driven by long term cost savings and productivity gains, bringing Africa closer to a resilient, prosperous and low-carbon future.”.

“Rana represents everything we look for in climate infrastructure: exceptional founders solving a massive problem with breakthrough technology and innovative financing,” said Eghosa Omoigui, Managing Partner, EchoVC Eco. “Abraham and Mubarak have built the first truly scalable solution to Africa’s $20 billion energy access gap. Their AI-powered approach doesn’t just replace diesel with a clean substitute, it creates a neoenergy paradigm that will unlock billions in economic growth.”

Market Opportunity

Africa’s distributed energy market is projected to reach $127 billion by 2030, driven by rapid urbanization, growing demand for reliable power, and grid infrastructure limitations. In Nigeria alone, 80% of businesses rely on diesel generators, at $0.4/kWh, more than three times the cost of solar or grid. Rana’s no-upfront subscription model offers a scalable, climate-positive, and financially attractive solution for these businesses and communities. 

Technology Differentiators

“Rana’s Virtual Solar Network (VSN) ecosystem has evolved from an internal prospecting and proposal tool into a comprehensive digital utility layer that powers every stage of the distributed energy delivery chain,” said Godpraise Momoh, Head of Software & AI innovation, Rana Energy. Rana leverages AI to accelerate deployment, enhance reliability, and create new opportunities for investors and customers: 

• AI-driven forecasting and optimization to anticipate energy demand and maximize solar-plus-storage performance
• GIS and drone-based solar mapping to identify and evaluate rooftop and land-based solar potential across urban centers, enabling faster project origination
• Digitally integrated financing and asset management tools, including the ability for investors to participate in individual projects or project portfolios
• Real-time monitoring and control across key performance metrics. 
• Mobile payment integration for a seamless, subscription-based customer experience
• Verified carbon tracking capabilities, with blockchain integration under development to support transparent climate impact asset performance reporting

About Rana Energy

Rana Energy is building Africa’s first AI-powered digital utility. Its platform, the Virtual Solar Network, aggregates, finances, and remotely manages solar and storage portfolios across underserved communities, businesses, and public institutions. Rana currently operates over 1.3 MW of clean energy systems across Nigeria and aims to reach 1,000 MW by 2030. Rana Energy is registered in Delaware and headquartered in Lagos.

About EchoVC

EchoVC is a pioneering early-stage venture capital firm dedicated to empowering underrepresented founders and catalyzing innovation in underserved markets. Through its specialized EchoVC Eco fund, the firm backs exceptional African founders building climate-positive companies with global scale potential.