E3 Capital

E3 Capital is an investment firm that focuses on enhancing energy access in Sub-Saharan Africa. It serves as an advisor to the Energy Access Venture Fund, which is dedicated to financing entrepreneurial businesses that tackle the region's electrification challenges through innovative technologies and business models. The fund is supported by Schneider Electric, a leading energy management company, along with various public-sector investors. E3 Capital aims to promote sustainable energy solutions to address the significant energy access gap in Sub-Saharan Africa.

Emmanuel Beau

Investment Manager and Co-Founder

Vladimir Dugin

Partner

Michael Gera

Managing Partner and Co-Founder

Kumayl Karimjee

Investment Analyst

Ravinder Sikand

Senior Partner

Ruth Wairimu

Associate

29 past transactions

Mawingu Networks

Series B in 2023
Mawingu Networks Limited provides wireless Internet services to underserved rural communities in Africa, focusing on delivering connectivity to homes and businesses. Founded in 2013 and based in Nanyuki, Kenya, the company utilizes high-performance, low-cost wireless technology combined with solar power to create efficient Internet networks. Mawingu offers Wi-Fi access through public hotspots, enabling customers to connect easily. Its innovative use of open technologies allows for the establishment of a scalable network that supports secure roaming, even in challenging geographical conditions.

SunCulture

Series A in 2020
SunCulture Kenya Ltd, based in Nairobi, manufactures and markets innovative solar-powered irrigation systems designed to enhance agricultural productivity. Founded in 2013, the company offers the AgroSolar Irrigation Kit, which integrates solar water pumping technology with high-efficiency drip irrigation, providing farmers with a comprehensive solution that includes irrigation tapes, filtration systems, and solar pumps. SunCulture aims to assist smallholder farmers in increasing crop yields while promoting sustainable practices. Additionally, the company functions as a one-stop shop for farmers by offering agronomic services, educational training, access to capital, and market connections in rural Kenya. This holistic approach not only supports farmers in improving their agricultural output but also emphasizes the importance of water conservation and clean energy generation.

ZIZ Energie

Convertible Note in 2020
ZIZ-Energie develops, constructs, and operates hybrid off-grid solar power plants. The company also distributes electricity and electrical equipment in secondary towns and rural areas. Additionally, it offers supervision and execution services of electrical work, engineering and advisory services in fossil and renewable energy, and related technical services. It serves industrial and commercial customers in rural and town areas. The company was founded in 2006 and is based in N’Djamena, Chad.

Solarise Africa

Series B in 2020
Solarise Africa is a pan-African energy leasing company headquartered in Nairobi, Kenya, specializing in financial leasing services for solar photovoltaic (PV) and other energy assets. The company primarily targets Commercial and Industrial (C&I) clients, offering smart financing solutions through strategic partnerships in the renewable energy sector. Solarise Africa focuses on projects involving captive rooftop and ground-mounted solar installations, with capacities ranging from 100 kW to 3 MW. Currently active in Kenya, the company has plans to expand its operations to South Africa and further into East, Southern, and West Africa, aiming for scalable growth in the renewable energy market.

Inspirafarms

Series B in 2020
Inspirafarms is a London-based company that specializes in manufacturing solar-powered, modular technologies for food processing and cold storage. Founded in 2012, it provides off-grid cold storage units, food processing plants, and dairy chilling machines, catering primarily to small and medium-sized agribusinesses in Central America and East Africa. The company focuses on reducing perishable food losses and operational costs in the horticultural sector by offering affordable, turnkey solutions that meet global food safety standards. Inspirafarms also supplies essential accessories and systems, including Good Agricultural Practice certified modules, renewable energy solutions, and data monitoring systems, which support post-harvest value addition processes. With additional offices in Kenya, Southern Africa, and Guatemala, Inspirafarms aims to enhance the efficiency of agricultural value chains and promote the supply of healthy, nutritious food to both local and international markets.

Nuru

Convertible Note in 2019
Nuru, SARL generates and manages renewable electric energy. The company offers solar micro grid energy to the Congolese households, businesses, and organizations. Additionally, the company installs solar PV and storage micro grid across country. Nuru, SARL was formerly known as Kivu Green Energy and changed its name to Nuru, SARL in September, 2019. The company was founded in 2015 and is based in Goma, Democratic Republic of the Congo.

Candi

Convertible Note in 2019
candi solar AG installs, finances, and operates rooftop solar equipment. The company was founded in 2017 and is headquartered in Zurich, Switzerland with an additional office in Mohali, India.

Mawingu Networks

Convertible Note in 2019
Mawingu Networks Limited provides wireless Internet services to underserved rural communities in Africa, focusing on delivering connectivity to homes and businesses. Founded in 2013 and based in Nanyuki, Kenya, the company utilizes high-performance, low-cost wireless technology combined with solar power to create efficient Internet networks. Mawingu offers Wi-Fi access through public hotspots, enabling customers to connect easily. Its innovative use of open technologies allows for the establishment of a scalable network that supports secure roaming, even in challenging geographical conditions.

Solarise Africa

Series A in 2019
Solarise Africa is a pan-African energy leasing company headquartered in Nairobi, Kenya, specializing in financial leasing services for solar photovoltaic (PV) and other energy assets. The company primarily targets Commercial and Industrial (C&I) clients, offering smart financing solutions through strategic partnerships in the renewable energy sector. Solarise Africa focuses on projects involving captive rooftop and ground-mounted solar installations, with capacities ranging from 100 kW to 3 MW. Currently active in Kenya, the company has plans to expand its operations to South Africa and further into East, Southern, and West Africa, aiming for scalable growth in the renewable energy market.

Nuru

Convertible Note in 2019
Nuru, SARL generates and manages renewable electric energy. The company offers solar micro grid energy to the Congolese households, businesses, and organizations. Additionally, the company installs solar PV and storage micro grid across country. Nuru, SARL was formerly known as Kivu Green Energy and changed its name to Nuru, SARL in September, 2019. The company was founded in 2015 and is based in Goma, Democratic Republic of the Congo.

PEG

Series C in 2019
PEG, founded in 2013 by Hugh Whalan and Nate Heller, is an asset financing company headquartered in Accra, Ghana. The company specializes in selling Pay As You Go solar energy products to off-grid customers in Ghana, Côte d'Ivoire, and Senegal. PEG's offerings enable customers to access improved lighting, mobile phone charging, and essential appliances such as radios and televisions. By providing financing for these solar home systems, PEG aims to enhance the quality of life for its customers while promoting sustainable energy solutions in underserved regions.

Nuru

Series A in 2019
Nuru, SARL generates and manages renewable electric energy. The company offers solar micro grid energy to the Congolese households, businesses, and organizations. Additionally, the company installs solar PV and storage micro grid across country. Nuru, SARL was formerly known as Kivu Green Energy and changed its name to Nuru, SARL in September, 2019. The company was founded in 2015 and is based in Goma, Democratic Republic of the Congo.

Zonful Energy

Seed Round in 2018
Zonful Energy Pvt (Ltd). sells and installs solar home systems in Zimbabwe. The company was founded in 2014 and is based in Harare, Zimbabwe.

Port It Global Inc

Seed Round in 2018
Over the past decade, financial inclusion has risen as a global priority. Extending affordable, effective, and client-centric financial services, especially to low-income populations and small businesses, creates countless opportunities—allowing individuals to put food on the table, afford better health care, start a business, or save for retirement. For governments, financial inclusion lays the foundation for stability and inclusive economic growth For the global community, financial inclusion helps accelerate economic progress, reduce extreme poverty, and build shared prosperity. Together we can make a significant contribution to help increase financial inclusion with those people who are unbanked and that have a smartphone.

Solarise Africa

Series A in 2018
Solarise Africa is a pan-African energy leasing company headquartered in Nairobi, Kenya, specializing in financial leasing services for solar photovoltaic (PV) and other energy assets. The company primarily targets Commercial and Industrial (C&I) clients, offering smart financing solutions through strategic partnerships in the renewable energy sector. Solarise Africa focuses on projects involving captive rooftop and ground-mounted solar installations, with capacities ranging from 100 kW to 3 MW. Currently active in Kenya, the company has plans to expand its operations to South Africa and further into East, Southern, and West Africa, aiming for scalable growth in the renewable energy market.

PayGo Energy

Venture Round in 2018
Globally, three billion people cook with biomass. The use of open fires and inefficient cookstoves with fuels such as wood, charcoal, and kerosene causes serious environmental and health impacts that disproportionately affect underserved communities. PayGo Energy is a revolutionary cookstove solution and distribution system that enables consumers to access clean and efficient fuel at a price point that is within their daily energy budget.

Zola Electric

Debt Financing in 2018
Zola Electric provides off-grid solar solutions primarily for African markets, focusing on Tanzania, Rwanda, Ghana, and the Ivory Coast. The company offers solar home kits that can be either leased or purchased, utilizing a pay-as-you-go micro-finance model that accommodates various income levels. By employing advanced solar, battery, and power electronics technology, Zola Electric delivers renewable energy systems tailored to the needs of individual households and businesses in rural communities. Since its inception in 2012, the company has powered over 180,000 homes and businesses. Formerly known as Off-Grid Electric Tanzania Limited, it rebranded to Zola Electric in July 2018 and has established its headquarters in Arusha, Tanzania, with an additional office in San Francisco, California. The company has garnered recognition through various awards and has attracted investment from notable firms, including Tesla and EDF.

SunCulture

Convertible Note in 2018
SunCulture Kenya Ltd, based in Nairobi, manufactures and markets innovative solar-powered irrigation systems designed to enhance agricultural productivity. Founded in 2013, the company offers the AgroSolar Irrigation Kit, which integrates solar water pumping technology with high-efficiency drip irrigation, providing farmers with a comprehensive solution that includes irrigation tapes, filtration systems, and solar pumps. SunCulture aims to assist smallholder farmers in increasing crop yields while promoting sustainable practices. Additionally, the company functions as a one-stop shop for farmers by offering agronomic services, educational training, access to capital, and market connections in rural Kenya. This holistic approach not only supports farmers in improving their agricultural output but also emphasizes the importance of water conservation and clean energy generation.

Inspirafarms

Series A in 2018
Inspirafarms is a London-based company that specializes in manufacturing solar-powered, modular technologies for food processing and cold storage. Founded in 2012, it provides off-grid cold storage units, food processing plants, and dairy chilling machines, catering primarily to small and medium-sized agribusinesses in Central America and East Africa. The company focuses on reducing perishable food losses and operational costs in the horticultural sector by offering affordable, turnkey solutions that meet global food safety standards. Inspirafarms also supplies essential accessories and systems, including Good Agricultural Practice certified modules, renewable energy solutions, and data monitoring systems, which support post-harvest value addition processes. With additional offices in Kenya, Southern Africa, and Guatemala, Inspirafarms aims to enhance the efficiency of agricultural value chains and promote the supply of healthy, nutritious food to both local and international markets.

Zola Electric

Venture Round in 2017
Zola Electric provides off-grid solar solutions primarily for African markets, focusing on Tanzania, Rwanda, Ghana, and the Ivory Coast. The company offers solar home kits that can be either leased or purchased, utilizing a pay-as-you-go micro-finance model that accommodates various income levels. By employing advanced solar, battery, and power electronics technology, Zola Electric delivers renewable energy systems tailored to the needs of individual households and businesses in rural communities. Since its inception in 2012, the company has powered over 180,000 homes and businesses. Formerly known as Off-Grid Electric Tanzania Limited, it rebranded to Zola Electric in July 2018 and has established its headquarters in Arusha, Tanzania, with an additional office in San Francisco, California. The company has garnered recognition through various awards and has attracted investment from notable firms, including Tesla and EDF.

PEG

Series B in 2017
PEG, founded in 2013 by Hugh Whalan and Nate Heller, is an asset financing company headquartered in Accra, Ghana. The company specializes in selling Pay As You Go solar energy products to off-grid customers in Ghana, Côte d'Ivoire, and Senegal. PEG's offerings enable customers to access improved lighting, mobile phone charging, and essential appliances such as radios and televisions. By providing financing for these solar home systems, PEG aims to enhance the quality of life for its customers while promoting sustainable energy solutions in underserved regions.

PayGo Energy

Series A in 2017
Globally, three billion people cook with biomass. The use of open fires and inefficient cookstoves with fuels such as wood, charcoal, and kerosene causes serious environmental and health impacts that disproportionately affect underserved communities. PayGo Energy is a revolutionary cookstove solution and distribution system that enables consumers to access clean and efficient fuel at a price point that is within their daily energy budget.

PayGo Energy

Seed Round in 2017
Globally, three billion people cook with biomass. The use of open fires and inefficient cookstoves with fuels such as wood, charcoal, and kerosene causes serious environmental and health impacts that disproportionately affect underserved communities. PayGo Energy is a revolutionary cookstove solution and distribution system that enables consumers to access clean and efficient fuel at a price point that is within their daily energy budget.

SunCulture

Seed Round in 2017
SunCulture Kenya Ltd, based in Nairobi, manufactures and markets innovative solar-powered irrigation systems designed to enhance agricultural productivity. Founded in 2013, the company offers the AgroSolar Irrigation Kit, which integrates solar water pumping technology with high-efficiency drip irrigation, providing farmers with a comprehensive solution that includes irrigation tapes, filtration systems, and solar pumps. SunCulture aims to assist smallholder farmers in increasing crop yields while promoting sustainable practices. Additionally, the company functions as a one-stop shop for farmers by offering agronomic services, educational training, access to capital, and market connections in rural Kenya. This holistic approach not only supports farmers in improving their agricultural output but also emphasizes the importance of water conservation and clean energy generation.

Inspirafarms

Series A in 2017
Inspirafarms is a London-based company that specializes in manufacturing solar-powered, modular technologies for food processing and cold storage. Founded in 2012, it provides off-grid cold storage units, food processing plants, and dairy chilling machines, catering primarily to small and medium-sized agribusinesses in Central America and East Africa. The company focuses on reducing perishable food losses and operational costs in the horticultural sector by offering affordable, turnkey solutions that meet global food safety standards. Inspirafarms also supplies essential accessories and systems, including Good Agricultural Practice certified modules, renewable energy solutions, and data monitoring systems, which support post-harvest value addition processes. With additional offices in Kenya, Southern Africa, and Guatemala, Inspirafarms aims to enhance the efficiency of agricultural value chains and promote the supply of healthy, nutritious food to both local and international markets.

d.light

Series D in 2016
d.light is a company that designs, manufactures, and distributes solar lighting and power products, primarily aimed at households and small businesses lacking reliable electricity. Founded in 2007 as a for-profit social enterprise, d.light has developed a range of products, including solar lanterns, home systems, and various appliances, to serve over 2 billion people globally. With distribution hubs in East and West Africa, India, Southeast Asia, and the United States, the company has reached over 65 million individuals, providing affordable and accessible solar solutions. d.light is committed to transforming energy usage and payment methods, enhancing the quality of life for users in rural and semi-urban areas through its innovative solar-powered products. The company operates from its headquarters in Palo Alto, California, with additional offices in key locations such as Shenzhen, China; Gurgaon, India; Nairobi, Kenya; Kampala, Uganda; and Lagos, Nigeria.

PEG

Series A in 2016
PEG, founded in 2013 by Hugh Whalan and Nate Heller, is an asset financing company headquartered in Accra, Ghana. The company specializes in selling Pay As You Go solar energy products to off-grid customers in Ghana, Côte d'Ivoire, and Senegal. PEG's offerings enable customers to access improved lighting, mobile phone charging, and essential appliances such as radios and televisions. By providing financing for these solar home systems, PEG aims to enhance the quality of life for its customers while promoting sustainable energy solutions in underserved regions.

PEG

Series A in 2016
PEG, founded in 2013 by Hugh Whalan and Nate Heller, is an asset financing company headquartered in Accra, Ghana. The company specializes in selling Pay As You Go solar energy products to off-grid customers in Ghana, Côte d'Ivoire, and Senegal. PEG's offerings enable customers to access improved lighting, mobile phone charging, and essential appliances such as radios and televisions. By providing financing for these solar home systems, PEG aims to enhance the quality of life for its customers while promoting sustainable energy solutions in underserved regions.

Zola Electric

Series C in 2015
Zola Electric provides off-grid solar solutions primarily for African markets, focusing on Tanzania, Rwanda, Ghana, and the Ivory Coast. The company offers solar home kits that can be either leased or purchased, utilizing a pay-as-you-go micro-finance model that accommodates various income levels. By employing advanced solar, battery, and power electronics technology, Zola Electric delivers renewable energy systems tailored to the needs of individual households and businesses in rural communities. Since its inception in 2012, the company has powered over 180,000 homes and businesses. Formerly known as Off-Grid Electric Tanzania Limited, it rebranded to Zola Electric in July 2018 and has established its headquarters in Arusha, Tanzania, with an additional office in San Francisco, California. The company has garnered recognition through various awards and has attracted investment from notable firms, including Tesla and EDF.
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