Nigerian Startup Koolboks Secures USD 500 K Investment From All On

All On, a Shell-funded impact investing company, has invested USD 500 K in Koolboks, an innovative refrigeration solutions company that offers cheap cooling services to small companies and households, focusing on expanding women’s income and employment prospects. The funding would help expedite the deployment of KoolHome units in essential regions of the Niger Delta and Southwest Nigeria, including the Federal Capital Territory and surrounding areas.

Koolboks is a technology-enabled renewable energy refrigeration firm that offers cost-effective cooling services to business owners in off-grid locations in Nigeria and around the world. The startup uses pay-as-you-go solar freezers to provide cold storage for perishables and beverages to productive-use clients like fish dealers and neighborhood stores in urban, peri-urban, and rural locations with limited grid access and high cooling expenses.