Beacon Power Services Raises USD2.7 Million in Seed Financing

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.

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