Energy Central Professional

 

Beacon Power Services Raises USD2.7 Million in Seed Financing


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.

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