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Konexa, based in Houston, Texas, with operations in the UK and West Africa, develops, owns, and operates grid and off-grid power assets, specializing in energy transition by replacing hydrocarbon power with renewables like hydro and solar. The company serves commercial and industrial clients, including Nigeria Breweries PLC, for which it achieved 100% renewable energy grid connection for two sites in March 2024. Konexa also launched Nigeria's first private renewable energy trading platform. The organization recently secured an USD 18 million investment from Climate Fund Managers (CFM) and Microsoft’s Climate Innovation Fund. This capital supports an annual supply capacity of 20.5 GWh, contributing to the avoidance of 8,104 tons of CO2e emissions. Led by CEO Pradeep Pursnani, Konexa was founded in 2014.
Konexa has raised $18.0M across 1 funding round.
Konexa has raised $18.0M in total across 1 funding round.
Konexa has raised $18.0M across 1 funding round. Most recently, it raised $18.0M Series U in March 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 1, 2024 | $18M Series U | — | GE Ventures, Microsoft | Announced |
Konexa is an energy technology company founded in 2018, headquartered in London, UK, that develops and manages integrated utility projects and renewable energy assets across Africa, primarily Nigeria.[1][3] It partners with existing utilities to deploy disruptive technologies like smart metering, off-grid mini-grids, solar home systems, and renewable generation capacity, solving unreliable power access for commercial, industrial, and rural customers while reducing technical and commercial losses in energy distribution.[1][2] The company serves energy-intensive businesses (e.g., Nigerian Breweries as its first client), governments, and underserved populations, providing 100% reliable power and accelerating electrification.[1][2][3] Konexa has raised $18M in unattributed funding from Climate Fund Managers (via Climate Investor One) and Microsoft’s Climate Innovation Fund, with the latest round in July 2024 to launch a private renewable electricity trading platform and transmit power from the 30MW Guara Hydro Power Plant.[1]
Konexa was founded in 2018 in London by a team focused on Africa's energy challenges, emerging from the need to integrate grid and off-grid solutions amid chronic power shortages.[1][3] The idea crystallized around an integrated utility model that combines partnerships with incumbents, proprietary technology, and public sector support to overhaul fragmented energy systems.[2] Key early traction included securing a licence from the Nigerian Energy Regulatory Commission in June 2022 to source, transmit, and sell renewable power to private clients via a trading platform.[1] In October 2020, it signed a development fund contract with Climate Investor One for a $2.5M project in Nigeria, encompassing a 2.5MW solar PV plant, 8 mini-grids, solar home systems, smart metering, and grid upgrades—serving 85,433 people and avoiding 8,953 tCO2eq/year in emissions.[4] Pivotal moments include landing Nigerian Breweries as its first client and the $18M raise in 2024 to scale operations.[1]
Konexa's edge lies in its integrated distribution model, blending partnerships, technology, and customer focus to deliver reliable, sustainable energy where traditional utilities fall short:
Konexa rides the clean energy transition in Africa, where 600 million lack reliable power amid rising demand from industrialization and urbanization, amplified by global net-zero pledges and falling renewable costs.[1][3] Timing is ideal post-COP commitments and Nigeria's regulatory shifts (e.g., 2022 licence enabling private trading), positioning it to capture market forces like grid instability (40%+ losses) and off-grid growth (mini-grids projected to serve 50M by 2030).[1][2] It influences the ecosystem by pioneering integrated platforms that harmonize IPPs, transmission, and retail—scaling via tech like AI-driven planning and metering—while de-risking investments for peers and fostering utility modernization.[4] This model accelerates continent-wide electrification, avoiding emissions and creating jobs, as seen in its 6 GWh production potential.[3][4]
Konexa is primed to dominate Africa's renewable utility niche, with its $18M fueling the Guara hydro integration and trading platform launch, potentially expanding to 100MW+ capacity and multi-country rollout.[1][4] Trends like AI-optimized grids, storage additions, and C&I electrification (e.g., breweries, factories) will propel growth, alongside donor-backed scaling from partners like CFM.[1][2] Influence may evolve from pioneer to platform leader, enabling IPPs and utilities via its tech stack—watch for pan-African expansion and IPO potential if it hits 100MW operations. This positions Konexa as the energy company of the future, transforming unreliable systems into sustainable powerhouses for Africa's boom.[3]
Konexa has raised $18.0M in total across 1 funding round.
Konexa's investors include GE Ventures, Microsoft.
