# Oolu

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

- Industry: Renewable Energy
- Headquarters: Dakar, Senegal
- Website: www.oolusolar.com
- Total disclosed funding: $12M
- Latest round: Series B (Dec 14, 2020)
- Investors on record: 7

## About

Based in Dakar, Senegal, and founded in 2015 by Daniel Rosa and Nilmi Senaratna, Oolu LLC operates as a developer of an off-grid solar electric power for rural households and villages in West Africa. The company also offers payment online. The company's offerings include setting up a distribution model and payment infrastructure. Oolu has more than 250 full-time employees and is run by a Dakar-based management team. Winner of the Hogan Lovells Solar Innovation Award in 2017.

Oolu’s solar home system is composed of three adjustable lights and two USB plugs, powered by a battery that holds a charge for up to six hours with maximum output. For a low monthly fee, Oolu will install the system and perform all necessary maintenance, including free battery replacements and system upgrades, it offers technical support and energy maintenance services. 

In December 2020, Oolu LLC raised a Series B funding round led by independent renewable energy developer, RP Global. Other investors that participated include Persistent Energy Capital (PEC), Shell-seeded impact investor All On, Gaia Impact Fund, and DPI Energy Ventures. Oolu generated revenue of EUR 1.2 million in 2017. The company has been able to save families an average of 60 percent on total energy spending. The company has sold more than 60,000 solar home systems (SHS) across West Africa.	

Oolu will use the investment to expand its core product offering to meet the needs of its customers and further develop its operations in West Africa.

## Funding rounds

- Series B, Dec 14, 2020, $8.5M — Persistent Energy Capital, RP Global Holdings, Gaia Impact Fund, DPI Energy Ventures Pte. Ltd., All On
- Series B, Jul 9, 2018 — Gaia Impact Fund
- Series A, Oct 9, 2017, $3.2M — Persistent Energy Capital, Y Combinator
- Seed, Aug 18, 2015 — Y Combinator, Investo

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A
- Investo (https://capitalatlas.ai/funds/investo) — Seed
- Persistent Energy Capital (https://capitalatlas.ai/funds/persistent-energy-capital) — Series A, Series B
- Gaia Impact Fund (https://capitalatlas.ai/funds/gaia-impact-fund) — Series B
- RP Global Holdings — Series B
- DPI Energy Ventures Pte. Ltd. — Series B
- All On — Series B