Kenya’s Solar Panda has raised $8 million in its Series A round funding, jointly led by impact investors Oikocredit and the EU-funded Electrification Financing Initiative (EDFI ElectriFI).
The company says it will use the new funds to grow its product offerings, expand within Kenya, and set the stage for further expansion in the continent.
Solar Panda which has headquarters in both in Nairobi and Canada, designs, manufactures, and sells pay-as-you-go (PAYGo) solar home systems in Kenya.
The company sells Solar Home Systems that include lights, mobile charging, radios, and televisions through its network of 37 shops and 1000 sales agents across Kenya.
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