August 12

Female-Owned Battery Manufacturer Secures $1.3 Million Investment in South Africa

A South African black empowered female-owned SME, I-G3N, which develops lithium-ion batteries, has successfully raised $1.3 million in investment.

I-G3N, the only black empowered female-owned SME to successfully develop lithium-ion batteries specifically for the African continent, received the investment from Edge Growth and the ASISA ESD initiative.

Recognising I-G3N’s capability in designing, developing and manufacturing battery energy storage systems, Edge Growth and the ASISA ESD initiative have partnered with Secha Capital, an impact fund manager that shares a common vision of creating value via financial returns, job creation, funding of South African black-owned businesses and positive environmental outcomes.

Photo courtesy Finnrich.

Source: ESI Africa (link opens in a new window)