Okra Solar Raises USD 12 M Series A Funding Round

Okra Solar, which provides IoT enabled hardware and software to last-mile energy companies so they can profitably energize remote off-grid communities, has just closed USD 12 M Series-A round of financing to scale mesh-grid technology. The fresh financing, including debt and equity with USD 7.85 M raised on equity led by At One Ventures, along with FMO, Susquehanna Private Equity Investments LLLP, Autodesk Foundation and King Philanthropies. The debt financing was provided by EDFI.

Okra Solar develops mesh-grid technology, composed of their proprietary Okra Pod and sold together with PV panels, battery, and inverters to electrify underserved or unserved communities. The Okra Pod, allows for all assets, from solar panels to batteries and inverters, to be distributed and interconnected as a mesh-grid. Power is shared autonomously to reduce the chance of blackout and increase overall energy availability to each household. Grid operators can easily monitor, maintain, service and receive payment from end-users via the cloud using Okra Harvest whilst scaling up projects and building a profitable business.