Partech Africa Fund II leads investment in Beacon Power Services
BPS is an energy tech company providing data and grid management solutions for Africa’s power sector.
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Beacon Power Services (BPS), an energy tech company providing data and grid management solutions to help Africa’s power sector distribute electricity more efficiently, has closed a Series A financing round for an undisclosed amount.
The round was led by Partech, with participation from Finnfund, GAIA Impact, Proparco, and previous investors Kaleo Ventures and Seedstars Africa Ventures. Additional investors in this round include Clermount, Global Brain and its CVC partner JGC MIRAI Innovation Fund, and On.Capital. Clermount acted as a financial advisor to Beacon Power Services in this transaction. The funding will enable BPS to enhance its product offerings, support growth in its current operations, and expand into new markets across Eastern and Southern Africa.
Africa’s power grids face significant challenges, with utilities struggling to provide consistent service due to outdated infrastructure and unreliable data. BPS seeks to transform how African utilities manage the grid by providing data-driven solutions specifically designed to meet the unique needs of the continent’s power sector.
“With an exceptional track record in transforming grid management for utilities in Nigeria and Ghana, Beacon Power Services has established itself as a leader in addressing Africa’s energy challenges through data-driven solutions,” said Cyril Collon, general partner at Partech. “We believe in the potential of African founders to solve the continent’s most pressing issues. BPS embodies the type of company our Partech Africa Fund II was created to support. We look forward to partnering with BPS as they scale their operations and increase their impact across Africa.”
“We are thrilled to invest alongside Partech to support the pan-African development of BPS. Indeed, BPS's goals align with Proparco's VC mandate to support innovative start-ups on the continent. Through its sophisticated solutions, BPS provides a tangible answer to the major issue of electrical grid efficiency and is a good example of the private sector’s ability to tackle critical issues for development. Hence, we are very enthusiastic about this partnership which also highlights AFD group’s long-standing support of African utilities,” commented Fabrice Perez, head of Proparco's VC division.
“We are at the forefront of transforming Africa's energy infrastructure through advanced software that enables utilities to deliver more reliable electricity, optimise their operations, and decrease reliance on diesel generators. Central to our approach is providing real-time insights and actionable intelligence to utility companies across the continent. Energy challenges faced, especially in urban centers, cannot be resolved without the right data, which is the foundation of all our solutions,” said Bimbola Adisa, founder and chief executive officer of BPS.
Since its seed round in 2022, BPS has expanded significantly, now employing over 200 people across Nigeria, Ghana, Kenya, Zambia, and the US.
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