Solar Company Sun King Secures USD 70 Mn Equity Funding

Sun King, a provider of off-grid solar energy products in Africa and Asia, has secured a USD 70 Mn equity investment led by LeapFrog Investments, as an extension of the USD 260 Mn Series D round it announced this April.  As part of the deal, LeapFrog joins Sun King’s board, which now includes General Atlantic and M&G Investments, and Prabha Sinha, the company’s first investor.

Sun King is an off-grid solar energy company with product design, financing, and a grassroots installation model to provide energy to the 1.8 billion consumers across Africa and Asia who lack access to reliable electricity. Through innovative payment models, Sun King ensures that consumers don’t bear the upfront cost of a clean energy transition, allowing them to skip directly to less carbon-intensive consumption.