Led · Equity · Jun 2026

Eja-Ice Nigeria Limited manufactures and deploys solar-powered refrigeration and cold-chain systems designed for off-grid and weak-grid communities. Its integrated cold-chain model aims to give the company greater control over product design, operational efficiency, and service delivery tailored to underserved markets. Eja-Ice’s systems are already supporting microenterprises, cooperatives, and community-level infrastructure, particularly in areas with limited electricity. The company’s solutions target reductions in post-harvest losses, improvements in incomes for small-scale producers, and strengthened local food value chains. With the $1 million investment from All On, Eja-Ice plans to scale manufacturing and operations to expand access to reliable cooling services across Nigeria.

Led · Equity · Nov 2025

ICE Solar Commercial Power Limited delivers clean, reliable electricity to Nigerian SMEs through an Energy-as-a-Service model that bundles intelligent solar arrays, battery storage, remote monitoring, and flexible, pay-as-you-go billing. The company targets the roughly 97% of Nigerian businesses classified as SMEs, many of which depend on expensive, polluting petrol generators. By replacing these generators with its tech-enabled systems, ICE Solar aims to cut customers’ energy costs and carbon emissions while boosting productivity. The firm’s platform uses data-driven energy management to optimize performance and ensure uptime, making clean power more accessible and affordable. With new funding, ICE Solar plans to scale deployments to over 2,000 additional SMEs and accelerate the displacement of thousands of petrol generators. Management positions the business as a catalyst for job creation, economic inclusion, and Nigeria’s broader transition to a low-carbon economy.

Led · Series A · Sep 2025

Koolboks builds solar-powered refrigeration units with internal batteries and IoT to provide reliable cold storage where grid power is unreliable. The company sells refrigeration as a pay-as-you-go service, allowing customers to purchase cooling in monthly token payments. Koolboks operates in 28 countries and has more than 10,000 units across Nigeria. With new funding, it plans to open an assembly plant in Nigeria within 12–18 months to produce 72,000 refrigerators a year, create about 450 jobs, and cut prices by up to 20%. The startup is launching trade-in initiatives (Koolbuy and Scrap4New) and exploring monetising carbon savings to improve affordability. Since 2022 it has grown fundraising to about $18 million in total, including an $11 million Series A. Koolboks builds off-grid solar refrigeration units that can operate as refrigerators, freezers and lighting, storing cooling energy (using water and the sun) for up to four days without grid power. The units include LED lights and USB ports and come in 110–1,000 liter sizes. The company sells via a pay-as-you-go model—customers pay roughly $10–$20 monthly through mobile payments or POS agents to unlock usage tokens. Founded in 2018, Koolboks pivoted from a camping-refrigerator product to focus on business customers in emerging markets in 2020 and now sells across 18 countries while maintaining physical offices in Lagos and Paris and an affiliate office in Kenya. The startup has acquired over 3,000 unique customers and reports that the entire transaction volume it recorded in 2021 was achieved in the first two months of this year. Koolboks plans to use new capital to expand across Nigeria, build a local assembly facility and team, and catalyze entry into additional African markets such as DRC and Ivory Coast.

Participated · Series B · Apr 2025

Arnergy builds and installs solar systems and battery storage for homes and businesses across sectors including hospitality, education, finance, agriculture, and healthcare. Its lease-to-own product, Z Lite, has become a core focus as customers shift from outright purchases to monthly payment plans. The company has deployed over 1,800 systems across 35 Nigerian states, totaling 9 MWp of solar and 23 MWh of battery storage. Outright purchases comprised 60–70% of revenue in 2023 but fell to 25% last year as lease-to-own adoption grew; Arnergy tripled its lease customer base between 2023 and 2024 and expects 4–5x growth this year. Naira revenues have climbed and are on track to quadruple by year-end, while dollar revenues remained flat due to currency devaluation; the company is building FX revenue through dollar-denominated B2B2C partnerships and potential expansion into Francophone Africa. To scale, Arnergy is shifting from in-house sales to a partnership-driven model and is pursuing local debt from banks and DFIs to support energy-as-a-service projects. Arnergy designs, sells and installs distributed solar PV and lithium battery energy storage systems for residential customers and commercial sectors such as hospitality, education, finance, agriculture and healthcare. Its systems are tailored to address intermittent grid supply and enable customers to switch from petrol/diesel generators to cleaner, lower-cost solar power. The company has deployed over 7MW of solar PV and installed more than 20MW of lithium battery energy storage solutions; prior to its 2019 Series A it had installed over 2MW for more than 2,000 clients. Arnergy reports a 10x revenue growth over the last five years and has historically derived about 75% of revenue from outright sales, though it is now increasingly bullish on lease products. The startup operates across Nigeria and intends to maintain service provision in all 36 states via min-grid developers. Management plans further expansion and is preparing a Series B round scheduled to close this quarter to accelerate adoption within and outside Nigeria. Arnergy provides distributed renewable energy systems that combine solar power, storage solutions and proprietary remote management technologies to address intermittency and grid unreliability. Led by founder and CEO Femi Adeyemo, the Lagos-based company tailors affordable energy solutions for business and residential customers. Since launch it has delivered over 2MW of installed capacity and more than 5MWh of storage capacity across Nigeria. The company offers 5kW modular systems and targets verticals including small businesses, healthcare, hospitality, financial services, agribusiness and education. Arnergy intends to use recent funding to accelerate commercial growth and expand energy reliability to more customers.