Raising capital for a solar start-up
Steve Andrews is the former CEO of Sunny Money, which at the time was the largest distributor of solar lanterns in sub-Saharan Africa. He set up a new venture, NewLight Africa, to be the last-mile distributor of life-changing products, primarily selling solar lights and solar home systems, as well as clean cook stoves, alternative cooking fuels, and water purifiers.
E4I helped him raise capital required to enable him to start operations in Kenya through equity financing. We assisted in devloping a successful fund-raising pitch, providing a list of potential investors and introducing the company to investors who showed interest.
By August 2015 NewLight Africa had raised $845k. By September, they had launched their operations in Kenya.