Simplified Tech News Reporting

Nuru Raises $1.5m Funding

The Democratic Republic of Congo DRC-based energy startup operates renewable energy-powered metrogrids in strategic urban zones of the DRC and is seeking to provide five million clients with world-class connectivity

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Nuru is on track to build 13.7MWp of isolated solar-hybrid grids by mid-2024 after securing an initial US$1.5 million from investors in a convertible note round ahead of the close of its Series B funding round.

Renewable Energy Performance Platform (REPP), Proparco and E3 Capital have each decided to invest US$500,000 in Nuru, bridging a financing gap to bolster the company’s US$25 million Series B equity fundraising.

An impressive consortium of international investors will invest the residual funds at the financial close. The raise will help to accelerate the implementation of three nationally strategic late-stage development projects in Goma, Kindu and Bunia, with an aggregate installed capacity of 13.7MWp.

Jonathan Shaw, co-founder and CEO of Nuru, said: “Nuru is thrilled to have partners like REPP, Proparco, and E3 Capital empowering us to deliver life-changing energy access in a highly challenging environment. REPP, Proparco, and E3 Capital have demonstrated tangible commitments to helping Nuru achieve our mission of delivering reliable, affordable, renewable energy to five million people in DR Congo.


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