About Energy Tech sector in Africa
The Energy Tech sector in Africa comprises 593 companies, including 101 funded companies having collectively raised $667M in venture capital money and private equity. Out of these, 24 are Series A+ funded.
Energy Tech sector in Africa has seen 8 acquisitions and 1 IPO.
This sector includes companies providing technology-based solutions to the energy industry stakeholders.
Energy Tech sector is also known as Power Tech or Energy Engineering.
It includes 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. It excludes traditional companies which are involved in the production and distribution of non renewable and renewable energy as well as oil & gas.
Top Energy Tech Companies in Africa
There are 593 Energy Tech startups in Africa which include Bboxx, Rabbit, Beacon Power Services, Baobab +, Ampersand. Out of these, 101 startups are funded, with 24 having secured Series A+ funding.
Over the past 10 years, an average of 36 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Oxford, Bocconi University and Columbia Business School.
Here is the list of top Energy Tech startups in Africa
1. Bboxx
Provider of clean energy solutions. It is a platform that provides access to essential products and services. Its offerings include clean energy solutions, clean cooking technologies, smartphones, e-mobility options, and selected financial products. These products are delivered through a pay-as-you-go model for both rural and urban communities.
Key facts about Bboxx
- Founded Year: 2010
- Location: London (United Kingdom)
- Stage: Series D
- Total Funding till date: $131M
- Investors: Khosla Impact, Engie and 26 Others
- Latest Funding Round: Conventional Debt, Dec 07, 2022, $*****
- Tracxn Score: 72/100 What is this?
- Competitors Rank: 1 of 8 Competitors
2. Rabbit
App-based platform for dockless ride-sharing of electric kick-scooters. The platform enables users to find, book and unlock the vehicles through mobile applications. It offers features like online payments, eco-friendly rides, etc. The mobile application is available for Android and iOS devices.
Key facts about Rabbit
- Founded Year: 2018
- Location: Cairo (Egypt)
- Stage: Seed
- Total Funding till date: $2.2M
- Investors: 500 Global, Untapped Global and 1 Other
- Latest Funding Round: Seed, Oct 15, 2024, $*****
- Tracxn Score: 61/100 What is this?
Provider of web-based building energy management software solutions. It provides solutions for network analytics which includes energy audit and meter data aggregation, and customer engagement which includes customer portal and revenue protection. It offers features such as energy management, real-time updates, facility management, utility services, asset management, shadow metering, diesel monitoring, and more. It also offers solutions for industrial building facilities.
Key facts about Beacon Power Services
- Founded Year: 2010
- Location: Lagos (Nigeria)
- Stage: Series A
- Total Funding till date: $10.8M
- Investors: Partech Partners, Seedstars Africa Ventures and 13 Others
- Latest Funding Round: Series A, Nov 04, 2024, $*****
- Tracxn Score: 58/100 What is this?
- Competitors Rank: 56 of 6,272 Competitors
4. Baobab +
Provider of agent-based payment solutions. Its services include bill payments, money transfers, cash withdrawals. loans, and more. It also enables consumers to start small-scale businesses. Additionally, it provides solar lights to rural schools.
Key facts about Baobab +
- Founded Year: 2015
- Location: Senegal
- Stage: Acquired
- Total Funding till date: $14.1M
- Investors: Norfund, Symbiotics Group and 2 Others
- Latest Funding Round: Conventional Debt, Feb 05, 2024, $*****
- Tracxn Score: 55/100 What is this?
- Competitors Rank: 11 of 782 Competitors
5. Ampersand
Provider of an on-demand battery swapping services for two-wheelers. The platform offers on-demand two-enabled battery swapping services by providing payment details, vehicle details, and more. It also offers subscription and pay-as services to users.
Key facts about Ampersand
- Founded Year: 2014
- Location: Kigali (Rwanda)
- Stage: Series A
- Total Funding till date: $18.7M
- Investors: Ecosystem Integrity Fund, Beyond Capital Ventures and 11 Others
- Latest Funding Round: Series A, Aug 29, 2024, $*****
- Tracxn Score: 55/100 What is this?
- Competitors Rank: 1 of 6 Competitors
Companies founded year-on-year in the Energy Tech sector in Africa
58 Energy Tech startups in Africa were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2025 | 1 |
2024 | 5 |
2023 | 23 |
2022 | 40 |
2021 | 51 |
2020 | 58 |
2019 | 53 |
2018 | 55 |
2017 | 52 |
2016 | 31 |
Stage-wise distribution of Energy Tech sector companies in Africa
Out of the total 593 Energy Tech companies in Africa, 101 have secured funding. Among them, 24 have reached Series A or higher, and 15 to Series B or beyond.
Founded - 593
Funded - 101
Series A+ - 24
Series B+ - 15
Series C+ - 12
Company Stage | No. of companies |
|---|---|
Founded | 593 |
Funded | 101 |
Series A+ | 24 |
Series B+ | 15 |
Series C+ | 12 |
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Funding Trends in the Energy Tech sector in Africa
Total funding year-on-year in the Energy Tech sector in Africa
The Energy Tech sector in Africa saw a total funding of more than $546M in the last 10 years. The most amount of funding was in 2024 at more than $116M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $19.3M |
2024 | $116M |
2023 | $94.1M |
2022 | $87.2M |
2021 | $46.7M |
2020 | $21.4M |
2019 | $102M |
2018 | $9.98M |
2017 | $9.06M |
Recent Funding Rounds in Energy Tech in Africa
In the year 2025, till June 2025, Energy Tech companies in Africa have raised $19M in equity funding across 5 rounds.
In the same period last year (i.e. till June 2024), Energy Tech companies in Africa had raised $41.3M across 6 rounds.
So, 2025 has seen a 53.94% drop in funding in Energy Tech companies in Africa as compared to 2024.
Here are some recent, important funding rounds in Energy Tech companies in Africa:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 6172 | Jun 17, 2025 | and 2 more | |
Series A | 3886 | May 06, 2025 | and 2 more | |
Series B | 7543 | Feb 22, 2025 | ||
Seed | 1430 | Feb 12, 2025 | ||
Seed | 3844 | Jan 2025 | - |
Top Investors in Energy Tech in Africa
Plug and Play Tech Center is the top investor in Energy Tech companies in Africa based on number of companies invested.
Here are some top investors in Energy Tech companies in Africa:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
Paris (France) | - | |
Paris (France) | ||
London (United Kingdom) | Bboxx and SunCulture | |
Nairobi (Kenya) |
M&A activity in Energy Tech sector in Africa
In the year 2025, till May 2025, 1 acquisition happened in Energy Tech sector in Africa.
Here are some recent, important acquisitions in Energy Tech sector in Africa:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | May 12, 2025 | ||
Business Acquisition | Apr 28, 2023 | ||
Business Acquisition | Sep 16, 2021 | ||
Business Acquisition | Dec 14, 2017 | ||
Business Acquisition | Sep 07, 2017 |
Acquisition trends in Energy Tech sector in Africa
Here are the acquisition trends in Energy Tech sector in Africa:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2025 | 1 |
2024 | - |
2023 | 1 |
2022 | - |
2021 | 1 |
2020 | - |
2019 | - |
2018 | - |
2017 | 3 |
2016 | 1 |
Colleges which produce the most Energy Tech companies in Africa
Companies founded by alumni from top colleges in the Energy Tech in Africa
Most number of Energy Tech startups in Africa have been founded by alumni from University of Oxford, Bocconi University and Columbia Business School.
College | No. of companies |
|---|---|
University of Oxford | 2 |
Bocconi University | 1 |
Columbia Business School | 1 |
Columbia University | 1 |
Duke University | 1 |
Harvard University | 1 |
INSEAD | 1 |
Imperial College London | 1 |
Stanford Business School | 1 |
Stanford University | 1 |
Total funding in Energy Tech companies founded by alumni from top colleges in Africa
In the last 10 years, Imperial College London, Stanford Business School and Stanford University graduates' Energy Tech companies in Africa have raised the most funding among top colleges.
College | Total Funding |
|---|---|
Imperial College London | $180M |
Stanford Business School | $180M |
Stanford University | $180M |
Harvard University | $6M |
Duke University | $2.35M |
Columbia Business School | $150K |
Columbia University | $150K |
Bocconi University | - |
INSEAD | - |
University of California (Berkeley) | - |
Top News in Energy Tech in Africa
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Powerhive and Telcoin Partner to Build the World’s First Blockchain-Powered Mobility Financing PlatformGlobal FinTech Series•Mar 06, 2025•Powerhive, Telcoin,
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EFTCorp Delivers Africa’s First Open-loop Payment Solution for Rubicon Charging StationsFintech Finance•Feb 18, 2025•EFT Corporation, Rubicon
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Bboxx and Radiant Yacu partner to drive EV adoption for 130,000 motorbike riders with affordable insuranceAfrica Business Communities•Dec 19, 2024•Bboxx, RADIANT YACU
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Kenya’s SunCulture, Turaco partner to build farmers’ resilience against climate changeDisruptafrica•Dec 10, 2024•SunCulture
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Spiro Opens 38Th Swapping Station In Partnership With GalanaSoko Directory•Oct 29, 2024•Spiro, Galanapetroleum
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Sa’s Plentify Launches Home Energy Management Solution SolarbotDisruptafrica•Sep 27, 2024•Herholdts, Plentify
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Bboxx Launches Pan-African Carbon Credit Program for Multiple Clean Technologiesrenewableenergymagazine.com•Sep 24, 2024•Bboxx
