Angaza Design Closes $10.5 Million
Alternative energy startup Angaza Design closed $10.5 million in Series B financing led by Emerson Collective. Rethink Impact, Salesforce Ventures, Social Capital and StartX also participated in the funding.
Angaza offers a complete pay-as-you-go (PAYG) solution to distributors of pico-scale energy products in the off-grid world. The company’s PAYG technology allows consumers to purchase solar lamps and mobile phone chargers over time, in affordable increments, just as they purchase cellular airtime. By removing the upfront price barrier to solar products, Angaza aims to enable its distribution partners to sell to energy consumers in emerging economies, vastly expanding their sales and reach.