Nigerian Solar Energy Startup Gets $38-Million Support Funds
Daystar Power is a solar power startup business that is based in Lagos, Nigeria. It's a startup providing solar power solutions to businesses in Lagos and its environ. The tech startup has gotten $38-million in a Series B Investment. The investment was led by the Investment Fund for Developing Countries ( Investeringsfonden for Udviklingslande (IFU) and the Danish Development Finance Institution (DFI). Additional investors included STOA, a French impact infrastructure fund, Proparco, and several other investors. The solar power-focused startup aimed to use the funding to grow its operations in Nigeria and Ghana, with an objective to expand to other countries such as Senegal, Togo, and Côte d’Ivoire in the nearest future. Additionally, the funding will help Daystar Power to increase its installed capacity to over 100 megawatts, catering to clients in various sectors such as financial services, agriculture, manufacturing, and more....