• Latest
  • Trending
DRC startup Nuru secures $40 million to build mini-grid in sub-Saharan Africa

DRC startup Nuru secures $40 million to build mini-grid in sub-Saharan Africa

July 6, 2023
YouTube now lets viewers turn off video end screens

YouTube now lets viewers turn off video end screens

September 26, 2025
Apple iPhone 18 Pro rumours: Design, performance, and camera upgrades

Apple iPhone 18 Pro rumours: Design, performance, and camera upgrades

September 26, 2025
South African investment giant raises caution on Bitcoin ETF risks

South African investment giant raises caution on Bitcoin ETF risks

September 26, 2025
OpenAI’s ChatGPT Pulse now available for Pro users

OpenAI’s ChatGPT Pulse now available for Pro users

September 26, 2025
MSport 2025

MSport 2025: Nigeria’s #1 Sports Betting Site, Powered by Chelsea & BVB

September 25, 2025
MNT-Halan introduces Egypt’s first secure lending solution via Halan App

MNT-Halan introduces Egypt’s first secure lending solution via Halan App

September 25, 2025
Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

September 25, 2025
Airtel Africa invests in education with 100 scholarships and new tech hubs

Airtel Africa invests in education with 100 scholarships and new tech hubs

September 25, 2025
SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

September 25, 2025
Tango Brook launches digital card for fuel management

Tango Brook launches digital card for fuel management

September 25, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News Africa Tech News

DRC startup Nuru secures $40 million to build mini-grid in sub-Saharan Africa

Staff Writer by Staff Writer
July 6, 2023
147 5
0
DRC startup Nuru secures $40 million to build mini-grid in sub-Saharan Africa
471
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

Nuru, a solar energy firm located in the Democratic Republic of the Congo, aspires to supply constant power to the country’s five million residents. Its Series B funding of $40 million falls well short of the $300 million needed to reach this objective.

To develop its renewable energy infrastructure, the Democratic Republic of the Congo-based business Nuru has secured $40 million in Series B equity capital. 

Investors that lead the round include the International Finance Corporation, the Global Energy Alliance for People and Planet, the Renewable Energy Performance Platform, Proparco, E3 Capital, Voltalia, the Schmidt Family Foundation, the GAIA Impact Fund, and the Joseph Family Foundation.

An additional $28 million in project finance is expected to be closed by the end of July, in addition to the IFC’s equity participation and funding from the Finland-IFC Blended Finance for Climate Programme. For both the Series B round and the related project financing, Nuru relied only on AltRaise as its financial adviser.

RelatedPosts

Airtel Africa invests in education with 100 scholarships and new tech hubs

AfriChange embraces stablecoins to power cross-border remittances

Cassava, Accenture reach agreement to expand autonomous AI capabilities across Africa

The funding will be utilized to construct mini-grids in three different locations in eastern DRC: Goma, Kindu, and Bunia, which will be the biggest. The combined capacity of solar electricity and batteries will be 13.7 megawatts. Nuru, which means “light” in Swahili, has mini-grids up and running in four additional cities in eastern DRC. 

Read also: Yellow Africa secures $14 million for Solar energy solutions in Africa

Closing the Series B is a significant milestone in Nuru’s journey

The Democratic Republic of the Congo (DRC) is home to an estimated 100 million people, yet only around 20 percent of them have reliable access to electricity. In eastern DRC, many people do not have access to electricity. Since there is little to no electricity in the area, the mini-grids provide a chance to utilize renewable energy and avoid the usage of fossil fuels for power production.

The goal of Nuru’s utility-scale solar mini-grids is to supply constant, clean power to the communities in which they are deployed. This will aid in the much-needed improvement of climate resilience and sustainable development.

We’re excited to work with such a creative group of investors who share our mission of improving the lives of five million people in the DRC by increasing their access to electricity. Jonathan Shaw, Nuru’s founder, said after the round closed, “Closing the Series B is a significant milestone in Nuru’s journey, but it also demonstrates the viability of the metro grid model in the distributed energy sector in Africa.” “Nuru expresses deep gratitude to the investment group for backing the company and believing in its mission from the start. Together, we will continue to illuminate lives, drive economic growth, and empower communities across the DRC.”

TubimEnergy tackles Africa energy crisis with solar bundles

Series A funding round for Nuru totalled $3.8 million

Back in March, Nuru’s Series B equity fundraising was bolstered by early investments from REPP, Proparco, and E3 Capital. Each of the three investors in the convertible note round invested $500,000.

The Series A funding round for Nuru totalled $3.8 million and was headed by E3 Capital (formerly Energy Access Ventures) and EDFI ElectriFI in 2018. The investment was instrumental in establishing Nuru’s mini-grid portfolio in the cities of Goma, Beni, Tadu, and Faradje, all of which are now live.

Later this year, according to Bloomberg, the company plans to begin raising $90.0 million in a Series C investment. This comes as the firm pushes for a $300 million funding goal by September 24, 2024, in order to reach its goal of providing service to five million people in the DRC.

Tags: AfricaDRCmini-gridNuru
Staff Writer

Staff Writer

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.