Sun King Raises USD 40 M From Lightrock To Expand Off-Grid Solar Across Africa

Sun King, a prominent off-grid solar energy company, has raised USD 40 M in equity financing from Lightrock to accelerate its expansion across Africa and Asia. The Nairobi-headquartered company already serves more than 50 million people and has delivered 29 million solar products since 2007, with two-thirds of customers previously lacking electricity.

The new capital will advance Sun King’s product pipeline and expand its distribution network as it targets deploying 50 million additional solar kits by 2030. The company plans to grow its shop footprint from 470 to roughly 1,650 and scale its agent workforce to 90,000 across the continent.

Sun King’s integrated model, combining solar generation, appliances, installation and pay-as-you-go financing, makes clean power accessible for as little as USD 0.15 to USD 0.20 per day. The company has already provided USD 1.4 B in customer financing and aims to deepen its presence in 11 African markets while entering new underserved geographies.