# MPOWERD

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mpowerd

- Industry: Renewable Energy
- Headquarters: Brooklyn, US
- Website: www.mpowerd.com
- Latest round: Seed (Mar 1, 2015)
- Investors on record: 1

## About

MPOWERD Inc. is a company specializing in innovative portable solar energy solutions, focusing on environmentally friendly lighting and charging devices for outdoor enthusiasts and communities lacking reliable electricity access.Founded in 2012 in Brooklyn, US, MPOWERD Inc. designs solar-powered products aimed at off-grid users. The company has secured a total of 4 deals, with the most recent funding round being a VENTURE DEBT round raising USD 0.70 mn on April 28, 2020. The founders, Jason Snyder and John Salzinger, have previously been involved in other ventures, contributing to their expertise in sustainable energy solutions. Currently, Seungah Jeong serves as the CEO.MPOWERD specializes in innovative portable energy solutions, primarily focusing on solar-powered lights and charging devices. Their flagship product, the Luci light, provides sustainable lighting in off-grid areas, targeting consumers requiring reliable and eco-friendly illumination. The Luci light features durability, waterproof design, and a collapsible structure, making it suitable for various outdoor activities. In addition to the Luci light, MPOWERD offers a range of solar-powered charging products, marketed globally with significant penetration in Africa and Southeast Asia, where sustainable energy solutions are essential.In 2016, MPOWERD reported a revenue of USD 8.60 mn, with an EBITDA of USD -700,000. The company generates revenue primarily through direct-to-consumer sales and partnerships with retailers and nonprofit organizations, enabling accessibility to their solar products for outdoor enthusiasts and underserved communities. Their pricing strategies ensure that both individual consumers and bulk buyers can afford their flagship offerings, further promoting their mission of providing accessible energy solutions.MPOWERD's recent funding will be leveraged to support the development of new solar-powered products and expand their market reach. The company is focusing on entering additional emerging markets in Africa and Southeast Asia by the end of 2023, enhancing their product range to better meet local energy needs. The funds raised in the VENTURE DEBT round will facilitate these initiatives, ensuring that MPOWERD continues to innovate and provide sustainable energy solutions to those in need.

## Funding rounds

- Seed, Mar 1, 2015 — LaunchCapital

## Investors

- LaunchCapital (https://capitalatlas.ai/funds/launchcapital) — Seed