Renewable Energy Startup Nuru Raises USD 1.5 M Funding

The Democratic Republic of Congo (DRC)-based energy company Nuru is on track to build 13.7MWp of isolated solar-hybrid grids by mid-2024 after securing an initial USD 1.5 M from investors in a convertible note round ahead of the close of its Series B funding round.

Renewable Energy Performance Platform (REPP), Proparco and E3 Capital have each decided to invest USD 500 K in Nuru, bridging a financing gap to bolster the company’s USD 25 M Series B equity fundraise. The residual funds will be invested by an impressive consortium of international investors at financial close.

Nuru deploys and operates renewable energy powered metrogrids in strategic urban zones of the DRC, and seeks to provide five million clients with world-class connectivity. The raise will help to accelerate the implementation of three nationally strategic late-stage development projects in Goma, Kindu and Bunia.