Solar Power Startup Hohm Energy Shines Bright with $8M Seed Funding
February 23, 2024, 7:16 am
Location: South Africa, Gauteng, Johannesburg
Employees: 11-50
Founded date: 2021
Total raised: $8M
Hohm Energy, a South African Climate Fintech company, has secured a groundbreaking $8 million in seed funding to drive the adoption of rooftop solar across the region. Led by E3 Capital and 4DX Ventures, this investment marks a significant milestone in the tech startup landscape in South Africa. Hohm Energy's innovative approach to connecting homeowners and businesses with solar installers, product suppliers, and financing options is set to revolutionize the energy sector in the country.
Founded in 2021 by Tim Ohlsen and Emir Gluhbegovic, Hohm Energy has developed a proprietary software platform and marketplace that streamlines the entire solar installation process. By leveraging technology to address challenges in South Africa's rooftop solar market, Hohm Energy is making solar energy more accessible, trusted, and affordable for everyone.
With South Africa facing escalating power shortages and daily electricity rationing to prevent a grid collapse, Hohm Energy's solution comes at a critical time. By providing an alternative and sustainable energy source to millions of households, Hohm Energy is helping to ease the strain on the national grid and reduce the country's dependence on traditional power sources.
One of the key features of Hohm Energy's platform is its ability to empower solar installers and customers alike. Solar installers gain access to a trusted marketplace where they can design, manage, finance, and procure solar projects efficiently. Customers, on the other hand, benefit from a digital platform that assesses their property's solar needs, provides access to credit financing, and offers post-sales services such as repair and maintenance.
By partnering with major retail financial institutions in South Africa, Hohm Energy has created a seamless financing process for customers, further enhancing the accessibility of solar energy solutions. The company's focus on software-first solutions and marketplace dynamics sets it apart in the industry, positioning it as a leader in the green energy revolution in South Africa.
Looking ahead, Hohm Energy plans to expand its reach and impact by launching a program to train and empower local solar installers. With a strong emphasis on sustainability and profitability, Hohm Energy is poised to make a lasting impact on the energy landscape in South Africa and beyond. The $8 million seed funding is a testament to the company's potential and the confidence of investors in its mission to drive solar adoption and address energy challenges in the region.
Founded in 2021 by Tim Ohlsen and Emir Gluhbegovic, Hohm Energy has developed a proprietary software platform and marketplace that streamlines the entire solar installation process. By leveraging technology to address challenges in South Africa's rooftop solar market, Hohm Energy is making solar energy more accessible, trusted, and affordable for everyone.
With South Africa facing escalating power shortages and daily electricity rationing to prevent a grid collapse, Hohm Energy's solution comes at a critical time. By providing an alternative and sustainable energy source to millions of households, Hohm Energy is helping to ease the strain on the national grid and reduce the country's dependence on traditional power sources.
One of the key features of Hohm Energy's platform is its ability to empower solar installers and customers alike. Solar installers gain access to a trusted marketplace where they can design, manage, finance, and procure solar projects efficiently. Customers, on the other hand, benefit from a digital platform that assesses their property's solar needs, provides access to credit financing, and offers post-sales services such as repair and maintenance.
By partnering with major retail financial institutions in South Africa, Hohm Energy has created a seamless financing process for customers, further enhancing the accessibility of solar energy solutions. The company's focus on software-first solutions and marketplace dynamics sets it apart in the industry, positioning it as a leader in the green energy revolution in South Africa.
Looking ahead, Hohm Energy plans to expand its reach and impact by launching a program to train and empower local solar installers. With a strong emphasis on sustainability and profitability, Hohm Energy is poised to make a lasting impact on the energy landscape in South Africa and beyond. The $8 million seed funding is a testament to the company's potential and the confidence of investors in its mission to drive solar adoption and address energy challenges in the region.