Uganda-based solar startup Innovex raises seed funding
The startup which provides pay as you go (PAYG) and remote monitoring for solar companies has closed a seed funding round to help it scale its technology across Africa.
Innovex, the tech startup founded in 2016 by Douglas Baguma and David Tusubira, has developed “Remot”, a cloud-based Internet of Things (IoT) solution that transforms the distribution of off-grid solar energy systems and equipment using digital tools by enabling solar companies, EPC and distributors to remotely monitor and manage their energy systems.
Remot also facilitates better after-sales support and PAYG actuation for larger size solar systems, reducing downtime of solar systems and improved accessibility of solar systems and solar equipment, according to a Disrupt Africa report.
Innovex is already working with companies that have solar systems installed in institutions such as health centres, schools and rural farms across Uganda, Kenya, Tanzania, the Democratic Republic of Congo (DRC) and Ethiopia, and is now planning on scaling that after raising an undisclosed amount of seed funding from the Gaia Impact Fund.
Gaia Impact Fund is a French fund dedicated to energy access entrepreneurs. It has so far invested in 11 innovative companies across Africa and Southeast Asia and actively pursues its investment strategy with strong social and environmental impact.
Innovex will use the funding to scale Remot to 100 solar distributors across Africa, thus enabling solar energy access to three million people by 2023.
Uganda In Focus
Population: 44.269 million (Compared to South Africa's 59.6 million)
GDP: $35.165 billion (Compared to South Africa's $369.85 billion)
GDP Per Capita: $780 (Compared to South Africa's $6,193)
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