South African Startup Open Access Energy Secures USD 750 K

Cape Town-based SaaS startup Open Access Energy (OAE) has secured USD 750 K seed funding from Factor[e] Ventures. The funding marks the initial tranche of the company’s USD 1.5 M seed round.

Founded in 2021 by Gerjo Hoffman and Christoff Albertyn, the startup aims to revolutionize South Africa’s energy sector by enabling wheeling in the future, enhancing grid reliability, reducing emissions, and creating new revenue streams for IPPs.

OAE has partnered with Specno, a local agency, to accelerate delivery to local municipalities. The investment is expected to enable the company to scale operations, develop new features, and strengthen its position in the energy sector.