Zonful Energy has raised funds from Energy Access Ventures (EAV) for off-grid solar in Zimbabwe. EAV targets start-up companies whose main activity is the implementation of technologies and solutions in the energy sector. The amount invested and the units acquired by the venture capitalist have not been disclosed.
The funds obtained by Zonful will serve to strengthen its core team, diversify its product offerings and fund the distribution of solar power to nearly 10 million off-grid people in Zimbabwe.
Several companies have joined the EAV portfolio in recent years. These include PayGo Energy, a Kenyan company that develops and markets smart meters that monitor gas consumption.