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    Beacon Power Services Raises USD2.7 Million in Seed Financing


    August 9, 2022 - Marketline - Deals

     

      Deal In Brief

      Beacon Power Services, a provider of energy management software and analytics for utilities and mini grid operators across Africa, has raised USD2.7 million in seed financing. The financing was led by Seedstars Africa Ventures with participation from Persistent Energy, Kepple Africa Ventures, Factor[e] and Oridun Capital Management.

      Deal Value (US$ Million) 2.7
      Deal Type Venture Finance
      Sub-Category Seed
      Deal Status Completed: 2022-08-05

      Deal Participants

      Target (Company) Beacon Power Services Nigeria Ltd
      Acquirer (Company) Persistent Energy LLC

      Deal Rationale

      The funding would enable BPS to improve its current products (product upgrades to add new features and incorporate automation) and expand into new markets beyond Nigeria and Ghana, where it currently operates.

      (Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.)

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