Startups
Sub-Saharan Africa is in the middle of a power crisis, with large portions of the population not having access to electricity. Businesses and consumers who do have access to the grid, often have to deal with daily power outages which can last up to several days.
Most businesses across Sub-Saharan Africa rely on expensive and polluting diesel generators to bridge the supply-demand gap of electricity. Daystar Power focuses on hybrid solar power solutions for commercial customers for either a cash sale or a monthly fee. Daystar Power delivers three significant benefits to its customers: 1) reducing the cost of energy, 2) providing a stable power supply and 3) reducing pollution.
Most businesses across Sub-Saharan Africa rely on expensive and polluting diesel generators to bridge the supply-demand gap of electricity. Daystar Power focuses on hybrid solar power solutions for commercial customers for either a cash sale or a monthly fee. Daystar Power delivers three significant benefits to its customers: 1) reducing the cost of energy, 2) providing a stable power supply and 3) reducing pollution.
Overview
Location
Nigeria, Lagos State, Lagos
Employees
51-200
Total raised
$58M
Founded date
2017
Investors 1
| Date | Name | Website |
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Funding Rounds 2
| Date | Series | Amount | Investors |
| Sign up to see | Sign up to see | Sign up to see | Sign up to see |
| Jan 14, 2021 | Series B round | $38M |
Mentions in press and media 17
| Date | Title | Description |
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| Sep 30, 2022 | Shell acquires Lagos-based Daystar Power | --> --> Lagos-based Daystar Power has announced that it will be acquired by Shell subject to regulatory approvals, to deliver carbon emission reductions and power cost savings to commercial and industrial (C&I) businesses across A... |
| Jul 11, 2021 | Daystar Power, a solar startup, has received $20 million in funding from the International Finance Corporation (IFC) | Daystar Power, a West African producer of hybrid solar power solutions, has announced the completion of a $20 million financing from the International Finance Corporation (IFC). Daystar Power has raised $62 million in funding this year, fol... |
| Jul 7, 2021 | Nigeria’s Daystar Power secures $20 million from IFC | Daystar Power, a provider of hybrid solar power solutions to businesses in West Africa, has secured a facility of $20 million from the International Finance Corporation (IFC) to fund its project pipeline in Nigeria. Founded in 2017 by Sunra... |
| Jul 7, 2021 | Daystar Power receives $20 million in funding to boost operations in West Africa | Share this article: Today, Nigeria-based hybrid renewable energy provider, Daystar Power, has received a $20 million investment from the International Finance Corporation(IFC), a subsidiary of the World Bank Group. This follows an announcem... |
| Jun 2, 2021 | Banks don’t fund African renewable energy startups. So where can founders find money? | Small and medium scale enterprises in Africa receive about $70bn of credit each year. But the International Finance Corporation estimates that the gap exceeds $300bn. Why does the gap exist? Michael Famoroti, chief economist at Stears gave ... |
| Jan 16, 2021 | Daystar Power, a tech startup in Nigeria, secures $38 million | Daystar Power, a startup providing solar power solutions to businesses in the region, has secured $38-million in a Series B Investment. In a Series B funding round, Daystar Power, a start-up that offers solar power solutions to businesses i... |
| Jan 15, 2021 | Nigerian tech startup secures $38-million | Based in Lagos, Nigeria, Daystar Power, a startup providing solar power solutions to businesses in the region, has secured $38-million in a Series B Investment. Daystar Power has secured $38-million in funding The investment was led by th... |
| Jan 15, 2021 | Nigerian tech startup secures $38-million | Based in Lagos, Nigeria, Daystar Power, a startup providing solar power solutions to businesses in the region, has secured $38-million in a Series B Investment. Daystar Power has secured $38-million in funding The investment was led by the ... |
| Jan 14, 2021 | Daystar Power secures $38m Series B round | Nigeria: Nigerian company Daystar Power, a provider of hybrid solar power solutions to businesses, has announced a Series B investment of US$38 million to help it deepen its presence in various West African markets. Founded in 2017, Daystar... |
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FAQ about Daystar Power Group
When was Daystar Power Group founded?
Daystar Power Group was founded in 2017.
How much funding has Daystar Power Group raised?
Daystar Power Group has raised $58M in total across 2 funding rounds.
What funding rounds has Daystar Power Group raised?
Parsers VC lists 2 funding rounds of Daystar Power Group, among them a Series B round of $38M on Jan 14, 2021.
What has the press written about Daystar Power Group?
Parsers VC has collected 17 articles mentioning Daystar Power Group, among them “Shell acquires Lagos-based Daystar Power” (Sep 30, 2022) and “Daystar Power, a solar startup, has received $20 million in funding from the International Finance Corporation (IFC)” (Jul 11, 2021).
Is Daystar Power Group still active?
Daystar Power Group is probably closed: its latest activity on Parsers VC dates from Jul 22, 2025.