Energy utility startup, Beacon Power Services has raised $2.7 million in seed round funding led by Seedstars Africa Ventures, to improve access to electricity in sub-Saharan African cities; harnessing the power of data and smart technology.
- The fund will be used to improve its product stack including upgrading, adding new features, and incorporating automation into its products. The startup will also enter into new geographies beyond Nigeria and Ghana, where it currently operates.
- Launched in 2014, Beacon Power Services addresses the challenge of inadequate supply of electricity by distribution companies through the provision of energy management software and analytics for utilities.
- BPS uses Adora, its AI-based grid management platform to enable energy providers to identify network losses and respond quickly to them for efficient electricity distribution. It also uses its platform, Customer and Asset Information Management System (CAIMs) to digitize data for improved energy utility operation in Africa.
- Persistent Energy, Kepple Africa Ventures, Factor[e], and Oridun Capital Management invested in the round.