Nigeria’s Cleantech Earthbond Raises Pre-Seed Funding

Lagos-based Earthbond, a climate tech startup focused on providing affordable and reliable solar energy to Nigerian small and medium-sized enterprises (SMEs), has received an undisclosed investment from Madica. Affiliated with Flourish Ventures, Madica provides up to USD 200 K in funding to selected startups.

Founded in 2023 by Chidalu Onyenso, Earthbond addresses Nigeria’s USD 14 B off-grid generator market by facilitating access to solar energy. Through group financing and carbon accounting, Earthbond lowers costs and risks associated with the energy transition. The platform connects SMEs to embedded solar financing and a marketplace of accredited solar installers and suppliers, enabling businesses to adopt solar power as a cheaper and more sustainable alternative to traditional generators.