D.light Raises $41 million from an Africa-focused Investment Advisory Firm
D.light, a distributed solar provider has reportedly raised $41 million in equity financing. This round was led by an Africa-focused investment advisory firm that specializes in the energy sector known as Consortium Inspired Evolution.
Consortium partners include the Dutch Development Bank FMO, and also the government-sponsored investment funds Swedfund and Norfund.
This latest funding which enables expansion of the company’s solar and Pay-Go consumer finance business in Africa has brought the total amount of equity and debt that the company has raised in the past two years to over $100 million.
The funding round also enabled some of the company’s earliest investors to achieve an exit.
“We are thrilled to have Inspired Evolution as the newest fu...