# Okra Solar

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/okra-solar-pty

- Industry: Renewable Energy
- Headquarters: North Rocks, Australia
- Website: www.okrasolar.com
- Total disclosed funding: $9.4M
- Latest round: Series A (Mar 1, 2023)
- Investors on record: 15

## About

Okra Solar Pty Ltd. is an Australian company focused on providing innovative mesh-grid solutions that enhance energy access in underserved regions, particularly in Sub-Saharan Africa.Founded in 2016 and headquartered in North Rocks, Australia, Okra Solar specializes in decentralized energy distribution systems. The company has successfully completed a total of 7 funding deals, with the latest, a VENTURE DEBT round of USD 4.15 mn, raised in September 2023 from EDFI Management Company. The firm's founder, Afnan Hannan, has a notable background in the energy sector.Okra Solar specializes in mesh-grid technology designed to enhance energy access in underserved regions, specifically targeting off-grid electrification needs in Sub-Saharan Africa. Their core offerings include a proprietary mesh-grid system that allows for decentralized energy distribution, enabling efficient and cost-effective delivery of clean energy to households. The technology has been instrumental in electrifying rural communities, notably in Ondo State, Nigeria, where it has successfully empowered numerous households, including previously unserved areas like Abababubu and Igbobini. Okra's customer base primarily consists of local energy providers and organizations focused on rural electrification, with a strong emphasis on social impact. The company's solutions are designed to accommodate diverse geographical markets, specifically targeting regions with limited or no access to conventional energy infrastructure.Okra Solar's revenue model is primarily structured around partnerships with local entities and stakeholders in the energy sector, facilitating B2B transactions that enhance rural electrification projects. These partnerships enable the deployment of their mesh-grid technology, where local energy providers can offer Okra's solutions to end users, including households in remote communities. The firm’s transactions typically involve direct sales of their mesh-grid systems and associated services, fostering a sustainable revenue stream through recurring service agreements. While specific pricing plans for their products are not disclosed, the company emphasizes a scalable model that is accessible to a wide range of users, from small community-based providers to larger organizations focused on energy access initiatives. The seamless integration of hardware and software solutions positions Okra Solar as a pivotal player in transforming energy access in targeted markets.In September 2023, Okra Solar Pty Ltd. raised USD 4.15 mn in VENTURE DEBT funding, which will support their expansion efforts and new product designs aimed at enhancing their mesh-grid technology. The company plans to expand its services further into Sub-Saharan Africa, targeting additional regions that currently lack reliable access to electricity. Specific timelines for these expansions have yet to be detailed, but the firm is actively working on plans to introduce additional features to their technology, ensuring it meets the evolving needs of underserved communities.

## Funding rounds

- Series A, Mar 1, 2023, $8.2M — Susquehanna Growth Equity, FMO, ImpactAssets, Autodesk Foundation, At One Ventures, SDGx, King Philanthropies, Pentium Capital Partners, Hannan Tew Lawyers, Waters Family Office, Noray Acv Sl
- Seed, Feb 14, 2022, $1.2M — Explorer Investments, Schneider Electric, Didendum EAF S.L.U., Autodesk Foundation, Greenway Grid Global Pte. Ltd., SDGx

## Investors

- Explorer Investments (https://capitalatlas.ai/funds/explorer-investments) — Seed
- Schneider Electric — Seed
- Didendum EAF S.L.U. — Seed
- Autodesk Foundation — Seed, Series A
- Greenway Grid Global Pte. Ltd. — Seed
- SDGx (https://capitalatlas.ai/funds/sdgx) — Seed, Series A
- Susquehanna Growth Equity (https://capitalatlas.ai/funds/susquehanna-growth-equity) — Series A
- FMO — Series A
- ImpactAssets — Series A
- At One Ventures (https://capitalatlas.ai/funds/at-one-ventures) — Series A
- King Philanthropies — Series A
- Pentium Capital Partners — Series A
- Hannan Tew Lawyers — Series A
- Waters Family Office — Series A
- Noray Acv Sl — Series A