Rana Energy, a Nigerian clean energy startup, has raised $3 million in pre-seed funding to scale its AI-driven Clean Energy-as-a-Service platform across Africa.
- Rana Energy, a Nigerian clean energy startup, has raised $3 million in pre-seed funding to scale its AI-driven Clean Energy-as-a-Service...
- This improvement addresses that 600 million Africans lack dependable energy and spend $35 billion annually on diesel generators.
- An angel investment group, including MAX co-founders Chinedu Azodoh and Tayo Bamiduro, and Techstars and EchoVC Eco, each contributed $500,000...
- Building Africa’s first virtual solar network Rana Energy’s Virtual Solar Network employs artificial intelligence (AI) to forecast energy demand, enable remote...
Keep reading for the full breakdown on Africa — everything you need to know is covered below.
This improvement addresses that 600 million Africans lack dependable energy and spend $35 billion annually on diesel generators.
According to the corporation, clean energy should be inexpensive, reliable, and intelligent for towns and businesses across the continent.
An angel investment group, including MAX co-founders Chinedu Azodoh and Tayo Bamiduro, and Techstars and EchoVC Eco, each contributed $500,000 in stock. A local currency green debt note arranged by Optimum Global and backed by FSDH Asset Management provides the remaining $2.5 million.
Rana Energy’s Virtual Solar Network (VSN), an AI-powered digital utility aggregating solar and storage systems into investable portfolios and remotely managing distributed energy assets, was founded in 2023 by engineers Abraham Mohammed and Mubarak Popoola.
Building Africa’s first virtual solar network
Rana Energy’s Virtual Solar Network employs artificial intelligence (AI) to forecast energy demand, enable remote control over solar installations, and provide predictive maintenance.
This subscription-based service offers pure power without any initial expenses. The company has successfully implemented 1.3 MW of solar and battery systems throughout Nigeria within 18 months, resulting in a 99.9% availability and a reduction of over 80% in diesel dependency.
Dr Boroji Osindero, Medical Director at Wellness Centre in Lagos, shared, “Before Rana, we were spending over ₦2.5 million monthly on diesel. Now, we have 24/7 clean power at 25% less cost, and our patients know they can count on us during emergencies.”
A 5 MW Energy Security initiative at Nigeria’s National Defence College, which includes the biggest solar carport installation in the nation, is one of Rana’s signature projects.
Rana Energy intends to grow its platform to 10 MW and enter additional countries like Ghana and Zambia to deploy up to 100 MW of solar infrastructure across Africa within a few years, speeding the continent’s migration from diesel generators to clean energy.