SolarWorks – a pay-as-you-go (PAYG) company with operations in Mozambique – announced it had raised €2 million. The venture round was led by EDP Renovaveis SA with participation from Persistent Energy Partners.
The company is looking to use the fund to expand further across the continent.
“The investment will boost the international expansion of SolarWorks! in Southern Africa, where the company has been operating a PAYG business since 2016,” the company wrote in the press release.
In May Last year, SolarWorks was among the recipients of the seed grant from GSMA under their Mobile for Development Utilities Innovation Fund. The grant was to facilitate them to implement machine learning to improve solar home systems downtime
The company was first founded in 2007 by Bernard Hulshof and Arnoud de Vroomen as Flynn Solar. However, in 2009, Lemnis Lighting, a Dutch company acquired them. Though, the founders later bought back the company in 2012 after Lemnis merged with NTL Electronics (India).