Oolu Solar Raises $8.5 million In Series B Round With RP Global as Lead Investor, All On And Persistent Energy, Among Others
Oolu, a leading solar distributor in West Africa, has closed a $8.5 million Series B investment round led by independent renewable energy developer RP Global. Additional participating investors included Persistent Energy Capital, Shell-seeded impact investor All On, Gaia Impact Fund, and DPI Energy Ventures.
Oolu’s mission is to provide affordable energy access to rural and peri-urban customers in West Africa. Since its inception in 2015, the company has sold over 60,000 solar home systems to customers in the region. In addition to a large distribution and service network, Oolu employs over 250 full-time employees and is run by a Dakar-based management team of whom 50% are women. With this investment, Oolu will expand its core product offering to meet the needs of its current and future customers and further develop its operations in West Africa.