In Brief: Zonful Energy gets funding from Energy Access Ventures

Zonful Energy, a provider of clean energy solutions in Zimbabwe, has secured funding from Energy Access Ventures (EAV). Though, there are no details regarding the funding amount and type.

Founded in 2013 by William Ponela, Zonful Energy promotes energy access in Zimbabwe by distributing pay-as-you-go (PAYG) solar home systems (SHS).

Zonful will use the funding to strengthen its core team, diversify its product offerings, and drive growth in order to serve the 10 million people without access to grid electricity in Zimbabwe.

In August this year, the company secured $300,000 convertible note from Persistent Energy Capital (PEC). The raised capital will aid the firm to carry on their vision of providing for off-grid households.

EAV’s first fund (“EAV I”) was raised in February 2015 and is €75,000,000 in size. The fund has 9 companies in its portfolio including Zola Electric, PAYGO Energy, SunCulture and more.

Source: Press Release

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