Investors update: Cleantech Qotto plans further growth backed by $8m funding

Cleantech Qotto plans further growth backed by $8m funding

Highlights

• Qotto, a solar kits provider with operations in Burkina Faso and Benin, has raised $8 million in a Series A equity-debt funding from the Mauritius-headquartered IBL group and other investors.
• Founded in 2016, Qotto designs and distributes stand-alone solar kits and lanterns to individuals residing in the least electrified regions of Africa, through a pay-to-own model.
• Qotto plans to scale in existing markets and expand to Ivory Coast where it is set to begin operations by next month.

Source: TechCrunch

Our Takeaway

Renewable energy solutions by companies like Qotto are bridging the energy access gap in the least electrified countries like South Sudan, Burundi, Chad, Malawi, Burkina Faso, Madagascar, and Tanzania, all located in sub-Saharan Africa, which accounts for 75% of the world’s population with no access electricity. This trend has been largely driven by the decreasing costs of solar systems, relative to either grid or diesel generators, making them become economically viable alternatives for commercial and household use in Africa.

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Orange, German agency launch new digital center in Sierra Leone

Highlights

• French telecom giant Orange and the German Development Cooperation have announced the opening of an Orange Digital Center (ODC) in Sierra Leone. 
• The center is expected to serve as an ecosystem entirely dedicated to the development of digital skills and innovation.
• The facility will provide four strategic programs, all provided free of charge and open to everyone. The programs will also include a variety of digital training for young people, guidance to address project barriers, and startup acceleration.

Source: TechCabal

Our Takeaway

As Africa catches up with the developed world in terms of technological progress, digital centers like these help to bridge this gap by providing crucial access to upskilling opportunities for individuals and mentorship to startups. The ODC, yet another example of corporates supporting innovation in Africa, is even more crucial for Sierra Leone considering the need to spread technological innovation—which remains concentrated in a few major markets—across the continent.

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BuuPass gets $1.3m from Founders Factory, Daba finance and others to digitize mobility in Africa

Highlights

• Kenya-based BuuPass has closed a $1.3 million pre-seed round that saw participation from Daba Finance, Founders Factory Africa, Google Black Founders Fund, and several angel investors.
• BuuPass, a full-stack marketplace, provides operators with a system for managing their operations, inventory, and sales. It then connects them to its marketplace, where passengers search, compare and book their tickets using different channels.
• The company, founded in Kenya seven years ago, plans to scale in Kenya and Uganda, before exploring other markets.

Source: TechCrunch

Our Takeaway

BuuPass is one of several tech-driven, end-to-end booking platforms that have emerged across the continent looking to bridge a fundamental gap in the largely traditional, manual, and fragmented road transport sector. Since its launch, the company has grown significantly. It currently processes about 12,000 transactions per day across its booking channels and has recorded over 9 million ticket sales. Last year, its Gross Merchandise Value (GMV) was slightly over $30 million.