Nigeria’s Beacon Power Services Secures Series A Funding

Beacon Power Services (BPS), a technology company providing data and grid management solutions to improve electricity distribution in Africa, has announced the completion of its Series A funding round for an undisclosed amount. The round was led by Partech, with participation from Finnfund, Gaia Impact Fund, Proparco, Kaleo Ventures, Seedstars Africa Ventures, Clermount, Global Brain, and the JGC MIRAI Innovation Fund, and On.Capital. Clermount also acted as a financial advisor for the transaction.

Founded in 2010 by Bimbola Adisa, BPS focuses on optimizing electricity distribution networks through innovative data-driven solutions. The new funding will enhance its product offerings, support its current operations, and facilitate expansion into Eastern and Southern African markets.

Previously, BPS raised USD 2.7 M in seed funding from Persistent Energy, Kepple Africa Ventures, Factor[e], and Oridun Capital Management. With the additional capital, BPS aims to strengthen its role in driving sustainable energy solutions across the continent.