South Africa: E3 Capital and 4DX Ventures lead investment in rooftop solar platform
South Africa: E3 Capital and 4DX Ventures lead investment in rooftop solar platform
Hohm Energy has announced the successful final close of its $8 million seed round.
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Hohm Energy, a South African company that helps homeowners and businesses to go solar with accredited solar installers, product suppliers, and embedded solar finance, has announced the final close of its $8 million seed round.
The round was led by E3 Capital and 4DX Ventures and attracted participation from new investors, including Breega, E4E Africa, TO.org, Tekton Ventures, Sunu Capital, Musha Ventures, and Climate Capital Ventures.
Launched in 2021 by Tim Ohlsen and Emir Gluhbegovic, Hohm Energy has built its own proprietary software platform and marketplace that helps connect everyone in the value chain.
Speaking on the investment, Tim Ohlsen, CEO of Hohm Energy stated, “The energy system in South Africa is broken. Climate-tech is key to solving the current challenges through the provision of a scalable and sustainable alternative. Our robust software platform and fintech marketplace, which enables us to offer value to all stakeholders, is pivotal in enhancing the efficiency of rooftop solar installations and ultimately mitigating the severity of load-shedding being experienced. We are honoured to be collaborating with renowned global investors who share our passion and vision and are helping us achieve our mission on a larger scale.”
Vladimir Dugin, senior partner at E3 Capital said, “We are thrilled to announce our inaugural investment in Hohm Energy. With its tech-driven approach, Hohm is at the forefront of South Africa’s green energy revolution. The team is uniquely positioned to create a ‘one-stop shop’ for all green solutions for residential customers and address existing challenges around energy supply.”
Peter Orth, managing partner at 4DX added, “We strongly believe in Hohm’s mission to drive rooftop solar adoption across South Africa and beyond, and have seen similar businesses thrive in a number of markets globally. We believe Hohm is best positioned to bring this solution to South Africa where it is sorely needed given the state of the electric grid, and are thrilled to be backing Tim and his team at this stage of their journey.”
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