Powerhive leverages a proprietary technology platform to develop and operate portfolios of renewable microgrids that supply affordable, reliable and productive electricity to off-grid communities in emerging markets. Founded in 2011 and led by CEO Christopher Hornor, the company holds a 25-year license to operate in Kenya as the country’s first private utility and has subsidiaries in Kenya. Powerhive aims to serve 100,000 people across 20,000 households by early 2020 and plans to reach 20,000 connections in Kenya. It closed a US$9.3m Series B to continue that growth. Backers include Toyota Tsusho Corporation, Kouros, To:org and existing investors Tao Capital, James Sandler, Prelude Ventures, Caterpillar Ventures, and Total Energy Ventures. The company says it will leverage Toyota Tsusho’s expertise and footprint in Africa to pursue collaboration opportunities in new African markets and in ancillary products and services such as electrical mobility products and services, reused batteries, and agricultural and industrial materials. Powerhive leverages a proprietary technology platform to develop and operate portfolios of renewable microgrids that supply affordable, reliable electricity to off-grid communities. Led by CEO Christopher Hornor, the company has operated rural microgrids in Kenya since 2012 and maintains offices in Nairobi and Manila. Its systems support productive equipment and vital community services such as health clinics and schools. Powerhive received early backing from First Solar. Financially, the company raised $20M in a Series A and last month received an $11M equity investment for its main Western Kenya project, which will serve approximately 90,000 people. It intends to use the new funds to expand into new markets in Africa and the Asia-Pacific while continuing to grow operations in Kenya.

Total raised

$29M

Funding rounds

2

Latest round

Series B

Latest activity

Jul 2019