AMMP Technologies receives investment from Point Nine Capital, Raba and Musha Ventures
AMMP Technologies, a software company providing operations platforms for decentralised renewable energy systems, has raised €1.15 million in venture funding. The seed round was led by Berlin-based venture capital firm Point Nine Capital, with participation from Africa-focused investment firm Raba Partnership and Musha Ventures, a global seed-stage investment fund. AMMP is active in several African countries, including Sierra Leone, Ghana, Togo, Nigeria, Chad, Uganda, Kenya, Tanzania, Malawi, Zambia, Zimbabwe and South Africa.
AMMP Technologies is an Amsterdam-based provider of digital solutions for energy service companies in emerging markets. AMMP supports the rapidly accelerating global shift from centralised generation based on fossil fuels, towards decentralised renewable energy. The company’s ambition is to be the software platform underpinning tomorrow’s energy infrastructure – secure, smart, and clean.
The Raba Partnership is a Cape Town-based investment firm focused on early-stage software and internet companies in Africa. Musha Ventures was founded in 2011 by Aadil Mamujee, who is a Kenyan born operator and product executive. Musha Ventures has invested in 60-plus companies in 10 countries, with a particular focus on Africa.
As energy infrastructure developers look to the future, deployment of the energy systems managed by AMMP is accelerating rapidly. The company’s current focus is on emerging markets, where each year over $60 billion is spent on diesel generation, according to the IFC – and where cheaper, cleaner renewables are rapidly replacing this legacy spend.
For instance as of today, only 10-20% of Nigerian households can rely on the grid, while the vast majority of the population still uses privately managed diesel generators. The rapid development and decrease in costs of PV/battery hybrid systems have led to the emergence of a new generation of energy service companies that install, monitor and operate these systems remotely. These can now offer much more reliable energy at prices on par with the centralised utilities.
AMMP works with some of the most advanced companies in this space, such as Daystar, Rensource and PowerGen. The platform enables remote operations for nearly 1,000 renewable energy generation systems across 17 countries on four continents – from Colombia, through to Sierra Leone and Kenya, to Myanmar. AMMP supports a wide range of assets, from rural mini-grids with battery storage, to complex megawatt-scale PV-diesel hybrid plants, to telecoms towers.
“Energy generation is increasingly relying on decentralised systems using renewables. Conversations with multiple emerging utility companies show the pace at which this is happening in developing countries and how important AMMP’s platform is for these to run their operations. We’ve been impressed by the team’s deep insight into the problem and are looking forward to joining them on their journey to become the backbone of the next generation of utility companies” says Louis Coppey, principal at Point Nine.
George Rzepecki of The Raba Partnership adds, “At Raba, we seek out founders focused on solving large, foundational problems. So we felt an immediate alignment with the team at AMMP. African countries have the opportunity to reimagine their energy inputs and meet their significant and growing needs through renewables. We are excited to partner with the AMMP team and be part of building a software-powered operating system to advance renewable energy globally.”
Reach Africa’s private equity community by publishing a Showcase Article, Job Opportunity or Event on Africa Private Equity News. Contact us at editor@africaprivateequitynews.com for our rate card and more information.