* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, June 22, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    How AI can help make cities work better for residents – MIT Technology Review

    How AI can help make cities work better for residents – MIT Technology Review

    Tech Champions with Leo Bletnitsky of Healthy Technology Solutions – Buzz Media Group

    Meet Tech Champion Leo Bletnitsky of Healthy Technology Solutions

    Crypto’s true revolution is about humanity, not technology – Cointelegraph

    Crypto’s Real Revolution: Transforming Humanity Beyond Technology

    $1 Billion Problem: New Technology Could Save Your Daily Cup of Coffee – SciTechDaily

    The $1 Billion Challenge: How New Technology Could Rescue Your Daily Cup of Coffee

    Canada’s construction industry gets serious about investing in technology as pressure mounts to do more with less – Yahoo Finance

    Canada’s Construction Industry Accelerates Tech Investments to Overcome Growing Challenges and Boost Efficiency

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    How AI can help make cities work better for residents – MIT Technology Review

    How AI can help make cities work better for residents – MIT Technology Review

    Tech Champions with Leo Bletnitsky of Healthy Technology Solutions – Buzz Media Group

    Meet Tech Champion Leo Bletnitsky of Healthy Technology Solutions

    Crypto’s true revolution is about humanity, not technology – Cointelegraph

    Crypto’s Real Revolution: Transforming Humanity Beyond Technology

    $1 Billion Problem: New Technology Could Save Your Daily Cup of Coffee – SciTechDaily

    The $1 Billion Challenge: How New Technology Could Rescue Your Daily Cup of Coffee

    Canada’s construction industry gets serious about investing in technology as pressure mounts to do more with less – Yahoo Finance

    Canada’s Construction Industry Accelerates Tech Investments to Overcome Growing Challenges and Boost Efficiency

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

DRC-based startup Nuru has secured $40 million to build the biggest mini-grid in sub-Saharan Africa

July 3, 2023
in Technology
DRC-based startup Nuru has secured $40 million to build the biggest mini-grid in sub-Saharan Africa
Share on FacebookShare on Twitter

Nuru, a solar energy startup based in the Democratic Republic of Congo, wants to provide 24-hour electricity for five million people in the country. Its Series B raise of $40 million is still a long way from the $300 million needed to achieve this goal.

Nuru, an alternative energy startup in the Democratic Republic of Congo, has raised $40 million in Series B equity funding. The round was led by the International Finance Corporation (IFC), the Global Energy Alliance for People and Planet (GEAPP), the Renewable Energy Performance Platform (REPP), Proparco, E3 Capital, Voltalia, the Schmidt Family Foundation, GAIA Impact Fund, and the Joseph Family Foundation. While the IFC’s equity investment also includes financing from the Finland-IFC Blended Finance for Climate Program, the company hopes to close off an additional $28 million in project finance by the end of July. AltRaise was the exclusive financial advisor to Nuru on both the Series B transaction and accompanying project finance.

The fund will be used to build three mini-grids in parts of eastern DRC—Goma, Kindu, and the largest in Bunia. With a combination of solar power and batteries, the total generation capacity will be 13.7 megawatts. Nuru, whose name means light in Swahili, has four other cities in eastern DRC already operating with its mini-grids. 

DRC has a population of about 100 million people, but less than 20% of the population has access to energy. Many of those who lack access to energy are in eastern DRC. The mini-grids provide an opportunity for the use of renewable energy and bypass the use of fossil fuels for power generation in the region which has little to no electrification.

Nuru’s utility-scale solar mini-grids are designed to provide 24/7 reliable and renewable energy to the communities they are installed. This will help improve climate resilience and sustainable development, which the country desperately needs.

Founded as Kivu Green Energy in 2015 by Jonathan Shaw, a Kenya-born American, the company built Congo’s first mini-grid in 2017. Three years later, it opened a 1.3-megawatt facility in the city of Goma, making it the largest mini-grid in sub-Saharan Africa with no connection to a national grid. 

“We are thrilled to partner with such a dynamic group of investors who are keen to drive our vision of expanding energy access and transforming five million lives in the DRC. Closing the Series B is a significant milestone in Nuru’s journey, but also demonstrates the viability of the metrogrid model in the distributed energy sector in Africa,” Shaw commented after the raise. “Nuru extends its heartfelt appreciation to the consortium of investors for their visionary support and unwavering commitment to Nuru’s vision. Together, we will continue to illuminate lives, drive economic growth, and empower communities across the DRC.”

Earlier in March, initial investments from REPP, Proparco, and E3 Capital bridged a financing gap at Nuru to bolster their Series B equity fundraise. The three investors each committed $500,000 in a convertible note round.

In 2018, Nuru raised $3.8 million in its Series A round, which was led by E3 Capital (formerly Energy Access Ventures), with EDFI ElectriFI. The investment was catalytic in building Nuru’s current operating mini-grid portfolio in the cities of Goma, Beni, Tadu, and Faradje.

Bloomberg reports that a $90-million Series C round is expected to get underway later this year. This is as the company aims to raise $300 million to hit its target to serve five million people in DRC by September 24, 2024. 

Get the best African tech newsletters in your inbox

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCabal – https://techcabal.com/2023/07/03/drc-based-startup-nuru-secures-40-million-funding/

Tags: DRC-basedStartuptechnology
Previous Post

Here’s why Latin American fintechs are expanding to Africa

Next Post

e-Pharmacy startup MYDAWA closes its largest round yet at $20 million

Technology Convergence Report 2025 – The World Economic Forum

Technology Convergence Report 2025 – The World Economic Forum

June 22, 2025
Kingsley Coman reveals desire to stay at Bayern Munich – Yahoo Sports

Kingsley Coman reveals desire to stay at Bayern Munich – Yahoo Sports

June 22, 2025
What role will Pope Leo XIV play in the future of Laudato Si’ ecological action? – National Catholic Reporter

What role will Pope Leo XIV play in the future of Laudato Si’ ecological action? – National Catholic Reporter

June 22, 2025
Opinion: What if MAGA Has a Point About Science? – Undark Magazine

What If MAGA Is Right About Science?

June 22, 2025
Are We Ready To Redefine the Second? Scientists Just Took a Major Step – SciTechDaily

Are We Ready to Redefine the Second? Scientists Achieve a Groundbreaking Breakthrough

June 22, 2025
What’s your ‘biological age’? And here’s how to lower it… – BreakingNews.ie

What’s your ‘biological age’? And here’s how to lower it… – BreakingNews.ie

June 22, 2025
Club World Cup trophy won’t make up for last season – Guardiola – BBC

Guardiola: Club World Cup Trophy Can’t Erase Last Season’s Disappointment

June 22, 2025
Russia’s Economy Minister Warns of Looming Recession – The Moscow Times

Russia’s Economy Minister Warns of an Imminent Recession

June 22, 2025
Governor Ferguson appoints a new director for the Health Care Authority – KIMA

Governor Ferguson Appoints Dynamic New Leader to Head Health Care Authority

June 22, 2025
‘Sleeping giant’: Jewish Voters Unite pushes NY Jews to flex political power – JNS.org

Sleeping Giant Awakens: How Jewish Voters Are Uniting to Flex Political Power in New York

June 22, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (697)
  • Economy (711)
  • Entertainment (21,611)
  • General (15,511)
  • Health (9,752)
  • Lifestyle (716)
  • News (22,149)
  • People (714)
  • Politics (718)
  • Science (15,930)
  • Sports (21,208)
  • Technology (15,697)
  • World (691)

Recent News

Technology Convergence Report 2025 – The World Economic Forum

Technology Convergence Report 2025 – The World Economic Forum

June 22, 2025
Kingsley Coman reveals desire to stay at Bayern Munich – Yahoo Sports

Kingsley Coman reveals desire to stay at Bayern Munich – Yahoo Sports

June 22, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version