Nigerian Cleantech Startup Koolboks Secures Credit Facility To Expand Operations

Koolboks, a Nigerian solar-powered cooling startup founded in 2018 by Ayoola Dominic and Deborah Gaël, has secured an undisclosed credit facility from TLG Capital to finance inventory and expand its retail and appliance partnerships.

The Lagos-based company manufactures solar-powered freezers and appliances that combine solar panels, patented ice-battery technology and pay-as-you-go capabilities to provide round-the-clock cooling without relying on grid electricity.

Its products serve traders, small businesses and corporate customers. Koolboks has sold more than 15,000 units and shipped to over 25 markets, with assembly operations in Lagos. The facility combines TLG’s private credit with a guarantee from Cascador, delivered in partnership with Morgan Stanley.