# Nuru, SASU

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nuru-sasu

- Industry: Power & Utilities
- Headquarters: Goma, Democratic Republic of Congo
- Website: www.nuru.cd
- Total disclosed funding: $41M
- Latest round: Series B (Jul 3, 2023)
- Investors on record: 10

## About

Nuru, based in Goma, North Kivu, Democratic Republic of Congo, specializes in solar energy solutions to improve electricity access in underserved communities by providing solar mini-grids.Nuru is focused on providing solar energy solutions, primarily through solar-based mini-grids. Founded in 2015 in Goma, Democratic Republic of Congo, the company has completed 8 deals with its most recent deal on July 3, 2023. The firm raised USD 40.00 mn in Series B funding, with notable investors including E3 Capital Partners and International Finance Corporation. Archip Lobo serves as the founder, while Jonathan Shaw is the CEO.Nuru SASU offers solar energy solutions designed to enhance connectivity in the Democratic Republic of Congo. Its core offerings include solar mini-grids that supply electricity in areas without grid access. The company deployed Congo's first solar mini-grid in 2017 and has established the largest off-grid mini-grid in sub-Saharan Africa, a 1.3MW hybrid site in Goma, alongside other locations in Beni and the Oriental Province. This service caters to residential customers and local businesses, thereby improving energy access in these regions.Nuru SASU generates revenue through direct sales of its solar energy solutions to consumers and businesses. It partners with other firms for the installation and maintenance of its solar mini-grids, facilitating sustainable energy access. Transactions typically occur via a direct-to-consumer model where clients subscribe to energy services at pricing plans designed for various consumer segments. This approach enhances energy availability and supports the company's goal to deliver power to 10 million Congolese by December 2030.Following the recent Series B funding of USD 40.00 mn raised on July 3, 2023, Nuru plans to utilize the capital to construct 13.7 MWp of new projects. This expansion aims to enhance the company’s reach and capabilities in providing solar energy solutions. Nuru is targeting further development within the Democratic Republic of Congo to meet the growing demand for reliable energy, ensuring its role in the socio-economic advancement of the region.

## Funding rounds

- Series B, Jul 3, 2023, $40M — Proparco, [DUP] International Finance Corporation, Schmidt Family Foundation, Voltalia SA, Gaia Impact Fund, E3 Capital Partners, Renewable Energy Performance Platform
- Series A, Mar 13, 2019, $1M — Aster Capital, Energy Access Ventures, Electrification Financing Initiative

## Investors

- Aster Capital (https://capitalatlas.ai/funds/aster-capital) — Series A
- Energy Access Ventures — Series A
- Electrification Financing Initiative — Series A
- Proparco (https://capitalatlas.ai/funds/proparco) — Series B
- [DUP] International Finance Corporation — Series B
- Schmidt Family Foundation — Series B
- Voltalia SA — Series B
- Gaia Impact Fund (https://capitalatlas.ai/funds/gaia-impact-fund) — Series B
- E3 Capital Partners (https://capitalatlas.ai/funds/e3-capital-partners) — Series B
- Renewable Energy Performance Platform — Series B