# Powerhive

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

- Industry: Software
- Headquarters: Nairobi, Kenya
- Website: www.powerhive.com
- Total disclosed funding: $27M
- Latest round: Series B (Jul 5, 2019)
- Investors on record: 8

## About

Powerhive Inc., based in Nairobi, Kenya, delivers innovative off-grid utility solutions, enhancing access to sustainable energy for communities lacking reliable power infrastructure.Founded in 2011, Powerhive Inc. focuses on providing scalable off-grid energy solutions. The company has evolved its strategy to emphasize modular mini-grid systems that circumvent traditional power delivery methods. Led by CEO Christopher Hornor, it has secured funding through four deals, with the most recent being a Series B round in July 2019, raising USD 9.3 mn from investors including Caterpillar Ventures and Toyota Tsusho.Powerhive specializes in scalable off-grid utility solutions that provide access to clean energy for remote communities. Their core offerings include modular mini-grid systems utilizing a proprietary technology stack, enabling users to bypass traditional power infrastructure. These systems deliver stable electricity and fast internet access, addressing the energy needs of underserved populations. Powerhive also provides tools and services for implementing profitable off-grid projects, targeting emerging markets in Africa where energy infrastructure is limited.Powerhive generates revenue through partnerships with energy providers and government entities, alongside direct contracts with local communities. Their business model involves the deployment of mini-grid systems with clients paying for installation and maintenance services via a subscription structure. Revenue is further supported by performance-based incentives linked to energy consumption and reliability, serving rural households, businesses, and government facilities with reliable energy solutions.Powerhive plans to leverage the recent USD 9.3 mn raised in Series B funding, secured in July 2019, to expand its product offerings and geographic reach. The company aims to enhance its modular mini-grid systems and explore new markets in Africa, focusing on regions that lack reliable energy access. Specific product launches are in development, with a strategic focus on meeting the unique needs of underserved communities.

## Funding rounds

- Series B, Jul 5, 2019, $9.3M — Toyota Tsusho, Prelude Ventures, Tao Capital Partners, Caterpillar Ventures, Total Ventures, Kouros, TO.org
- Series A, Jan 20, 2016, $18M — Prelude Ventures, Tao Capital Partners, Caterpillar Ventures, Pi Investments, Total Ventures

## Investors

- Prelude Ventures — Series A, Series B
- Tao Capital Partners (https://capitalatlas.ai/funds/tao-capital-partners) — Series A, Series B
- Caterpillar Ventures (https://capitalatlas.ai/funds/caterpillar-ventures) — Series A, Series B
- Pi Investments — Series A
- Total Ventures (https://capitalatlas.ai/funds/total-ventures) — Series A, Series B
- Toyota Tsusho — Series B
- Kouros — Series B
- TO.org — Series B