Zola Electric Closes $90 Million Funding Round To Scale Technology and Enter New Markets
By Tage Kene-Okafor
Millions of people in sub-Saharan Africa and emerging markets continue to live without access to electricity. Some reports peg these numbers between 500 million and 2 billion people despite the prevalence of renewable energy providers in these regions.
Zola Electric, one such provider, is announcing today that it has closed $90 million in new funding to enter new markets and drive distributed renewable energy.
When Zola Electric was launched in 2011 by Erica Mackey, Xavier Helgesen, and Joshua Pierce, the company provided solar home solutions to off-grid rural communities in Tanzania.
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Source: TechCrunch (link opens in a new window)
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