About Energy sector in Kenya
The Energy sector in Kenya comprises 303 companies, including 55 funded companies having collectively raised $2.39B in venture capital money and private equity. Out of these, 23 are Series A+ funded.
Energy sector in Kenya has seen 8 acquisitions and 3 IPOs.
This sector includes companies engaged in the production and distribution of energy and power.
Energy sector is also known as Power & Energy Sector, Energy Production or Traditional Energy Industry.
It includes traditional companies which are involved in the production and distribution of non renewable and renewable energy as well as oil & gas. It excludes companies providing software solutions to the energy industry stakeholders to manage, optimize and trade power. It also includes companies providing tech-heavy hardware for energy generation and smart products to optimize the use of energy.
Top Energy Companies in Kenya
There are 303 Energy startups in Kenya which include d light, M Kopa, Kenya Power, Sun King, KenGen. Out of these, 55 startups are funded, with 23 having secured Series A+ funding.
2026 has seen the creation of 1 Energy startup in Kenya. Over the past 10 years, an average of 8 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Oxford, INSEAD and Indian Institute Of Management–Lucknow.
Here is the list of top Energy startups in Kenya
1. d light
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Key facts about d light
- Founded Year: 2004
- Location: Nairobi (Kenya)
- Stage: Series E
- Total Funding till date: $118M
- Investors: Omidyar Network, Inspired Evolution and 38 Others
- Latest Funding Round: Conventional Debt, Feb 20, 2024, $*****
- Tracxn Score: 76/100 What is this?
- Competitors Rank: 1 of 4,146 Competitors
2. M Kopa
Key facts about M Kopa
- Founded Year: 2011
- Location: Nairobi (Kenya)
- Stage: Series D
- Total Funding till date: $241M
- Investors: British International Investment, Generation Investment Management and 36 Others
- Latest Funding Round: Conventional Debt, Jun 06, 2024, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 1 of 1,133 Competitors
3. Kenya Power
Key facts about Kenya Power
- Founded Year: 1954
- Location: Nairobi (Kenya)
- Stage: Funding Raised
- Investors: The World Bank, Europa and 2 Others
- Latest Funding Round: Grant (prize money), Nov 01, 2021, $*****
- Tracxn Score: 59/100 What is this?
4. Sun King
Key facts about Sun King
- Founded Year: 2007
- Location: Nairobi (Kenya)
- Stage: Series D
- Total Funding till date: $547M
- Investors: LeapFrog Investments, Lendable and 19 Others
- Latest Funding Round: Series D, Dec 12, 2025, $*****
- Tracxn Score: 54/100 What is this?
- Competitors Rank: 19 of 4,146 Competitors
5. KenGen
Provider of electricity generation services using geothermal, hydro, wind, and thermal power plants. This involves the development, management, and operation of power generation facilities. The company's operations encompass resource development, reservoir management, drilling and logistics, and ongoing maintenance of its power plants. A focus on business sustainability and environmental responsibility guides its practices. The company also offers consultancy services related to geothermal energy.
Key facts about KenGen
- Founded Year: 1998
- Location: Nairobi (Kenya)
- Stage: Funding Raised
- Investors: The World Bank and YW Capital
- Latest Funding Round: Conventional Debt, May 09, 2018, $*****
- Tracxn Score: 52/100 What is this?
- Competitors Rank: 108 of 2,519 Competitors
Companies founded year-on-year in the Energy sector in Kenya
1 new startup has been founded so far in 2026 in the Energy sector in Kenya. 17 Energy startups in Kenya were founded in 2017 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 1 |
2025 | - |
2024 | 2 |
2023 | 10 |
2022 | 9 |
2021 | 12 |
2020 | 11 |
2019 | 15 |
2018 | 12 |
2017 | 17 |
Stage-wise distribution of Energy sector companies in Kenya
Out of the total 303 Energy companies in Kenya, 55 have secured funding. Among them, 23 have reached Series A or higher, and 19 to Series B or beyond.
Founded - 303
Funded - 55
Series A+ - 23
Series B+ - 19
Series C+ - 18
Company Stage | No. of companies |
|---|---|
Founded | 303 |
Funded | 55 |
Series A+ | 23 |
Series B+ | 19 |
Series C+ | 18 |
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Funding Trends in the Energy sector in Kenya
Total funding year-on-year in the Energy sector in Kenya
The Energy sector in Kenya saw a total funding of more than $2.16B in the last 10 years. The most amount of funding was in 2022 at more than $516M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $180M |
2024 | $65.6M |
2023 | $372M |
2022 | $516M |
2021 | $136M |
2020 | $100M |
2019 | $26.6M |
2018 | $461M |
2017 | $241M |
Recent Funding Rounds in Energy in Kenya
In the year 2025, till December 2025, Energy companies in Kenya have raised $90M in equity funding across 2 rounds.
In the same period last year (i.e. till February 2024), Energy companies in Kenya had raised $7.2M across 3 rounds.
So, 2025 has seen a 1150% rise in funding in Energy companies in Kenya as compared to 2024.
Here are some recent, important funding rounds in Energy companies in Kenya:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series C | 7181 | Dec 25, 2025 | ||
Series D | 2969 | Dec 12, 2025 | ||
Seed | 7223 | Feb 15, 2024 | ||
Seed | 5581 | Feb 09, 2024 | ||
Convertible Debt | 3531 | Jan 16, 2024 |
Top Investors in Energy in Kenya
British International Investment is the top investor in Energy companies in Kenya based on number of companies invested.
Here are some top investors in Energy companies in Kenya:
Investor | Location | Top Portfolio Companies |
|---|---|---|
London (United Kingdom) | ||
The Hague (Netherlands) | ||
London (United Kingdom) | - | |
New York City (United States) | ||
Nairobi (Kenya) |
M&A activity in Energy sector in Kenya
In the year 2023, till March 2023, 1 acquisition happened in Energy sector in Kenya. Last year, in 2022, a total of 1 acquisition happened in Energy sector in Kenya.
Here are some recent, important acquisitions in Energy sector in Kenya:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Mar 16, 2023 | ||
Business Acquisition | Apr 20, 2022 | ||
Business Acquisition | Nov 04, 2019 | ||
Business Acquisition | 2019 | ||
Business Acquisition | Feb 18, 2019 |
Acquisition trends in Energy sector in Kenya
Here are the acquisition trends in Energy sector in Kenya:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | 1 |
2022 | 1 |
2021 | - |
2020 | - |
2019 | 3 |
2018 | 2 |
2017 | 1 |
IPOs in Energy in Kenya
In the year 2026, till March 2026, 1 IPO happened in Energy sector in Kenya.
Here are some recent, important IPOs in Energy sector in Kenya:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Mar 10, 2026 | Nairobi Securities Exchange (NSE) |
Colleges which produce the most Energy companies in Kenya
Companies founded by alumni from top colleges in the Energy in Kenya
Most number of Energy startups in Kenya have been founded by alumni from University of Oxford, INSEAD and Indian Institute Of Management–Lucknow.
College | No. of companies |
|---|---|
University of Oxford | 2 |
INSEAD | 1 |
Indian Institute Of Management–Lucknow | 1 |
London Business School (LBS) | 1 |
Stanford Business School | 1 |
Stanford University | 1 |
University of California (Berkeley) | 1 |
University of Cambridge | 1 |
University of Pennsylvania | 1 |
Total funding in Energy companies founded by alumni from top colleges in Kenya
In the last 10 years, Indian Institute Of Management–Lucknow, London Business School (LBS) and University of Oxford graduates' Energy companies in Kenya have raised the most funding among top colleges.
College | Total Funding |
|---|---|
Indian Institute Of Management–Lucknow | $614M |
London Business School (LBS) | $614M |
University of Oxford | $614M |
Stanford Business School | $283M |
Stanford University | $283M |
INSEAD | - |
University of California (Berkeley) | - |
University of Cambridge | - |
University of Pennsylvania | - |
Top News in Energy in Kenya
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Puma Energy and Hass Group Ink Lubricant Distribution Deal in DRCMobilityplaza•Feb 13, 2026•Puma Energy, HassPetroleum
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Kenya’s Gulf Energy targets first oil from former Tullow fields by end-2026World Oil•Nov 11, 2025•Gulf Energy
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d.light joins DARES programme to bring solar power to 17.5 million NigeriansTechpoint.Africa•Mar 10, 2025•d light, The World Bank
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M-KOPA unveils X-Series phones with life insurance benefitsBusiness and Financial Times•Feb 10, 2025•M Kopa
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Leading Fintech M-KOPA Reaches 5 Million Customers, Unlocking $1.5Bn in Credit Across 5 MarketsFintech Finance•Sep 24, 2024•M Kopa
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Julian Mitchell Takes CEO Role at 4G Capital, Focusing on Regional ExpansionFintech Finance•Sep 19, 2024•4G Capital, M Kopa
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TotalEnergies establishes 13 electric charging points in KenyaPetrolPlaza•Jun 17, 2024•Totalenergies, Roam, ARC Ride, Ampersand Energy
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M-KOPA feted for affordable asset financing, digital loans and health insuranceTechMoran•May 16, 2024•M Kopa
