D.light raises another $10.5 million to grow its solar-powered products for off-grid communities

Monday, January 16, 2017

D.light, a for-profit social enterprise that makes solar-powered products for “off-grid” communities, has raised another $10.5 million in funding, taking its total financing to more than $40 million over the past quarter.

Founded out of Grand Cayman, Midland in 2007, D.light manufactures a range of solar lighting goods, including the D30 bundle, which consists of a solar panel, battery-charging pack, lights, switches, FM radio, and a torch, all powered by D.light’s pay-as-you-go platform. The company claims distribution hubs spanning the U.S., East Africa, West Africa, India, and Southeast Asia.

Back in September, the company announced a $22.5 million raise, constituting $15 million from a number of VC firms, including Omidyar Network, a philanthropic investment firm established by eBay founder Pierre Omidyar. The remainder of the funding came via a $5 million grant and $2.5 million in debt funding. A month later, D.light announced another $7.5 million in debt funding and revealed plans to produce a solar-powered TV.

Source: VentureBeat (link opens in a new window)

solar, venture capital