For a breakdown of East African deals, visit our Dealmaker’s Log.
Copenhagen-based impact investor Nordic Impact Funds has invested in Irrisol Engineering, a provider of solar-powered water systems in rural Uganda. DOB Equity, a Dutch family-backed impact investor focused on East Africa, also took part in the investment.
In rural Uganda, many families still walk long distances or pay high prices for water that may not be safe. Irrisol builds and operates solar-powered water mini-grids and standalone systems that bring safe, piped water to communities beyond the reach of national utilities.
Users pay through consumption-based billing and pay-as-you-go plans via mobile money, which match payments to household incomes. This creates recurring, utility-style revenue that funds the ongoing operation and maintenance of each system. The company also designs and installs standalone solar water systems for schools, health facilities, businesses and homes.
Irrisol now serves around 350,000 people and aims to reach 1 million by 2028.
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Access the latest Dealmaker’s Log here