Kenyan startup Paygo Energy taps seed funds to expand clean energy to poor households

Kenyan startup Paygo Energy has raised seed funds to expand clean energy to poor households.

The Nairobi-based company has developed a smart gas meter and a pay-as-you-go service to help poor households switch to cleaner and more efficient liquid petroleum gas for their cooking needs.

Its customers pay as little as 50 cents a day, and would otherwise depend on dirty and expensive sources like charcoal and kerosene.

In this seed funding round, Paygo raised $1.43 million from Novastar Ventures, Energy Access Ventures, Village Capital, Global Innovation Fund, and Global Partnerships/Eleos Social Venture Fund.

The round, a mix of equity and debt, will finance development of Paygo’s software platform and its next-generation smart meter, and be used to expand outside of Nairobi.

This post originally appeared in ImpactAlpha's daily newsletter. Get The Brief.

Photo credit: Delia Harrington, Accion

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