Beacon Power Services (BPS), a pioneering energy technology firm, has successfully secured funding through a Series A financing round. This significant achievement will enable the company to broaden its influence across Eastern and Southern Africa.
The funding round was spearheaded by Partech and garnered substantial backing from notable investors including FinnFund, Gaia Impact, Proparco Group, Kaleo Ventures, Seedstars Africa Ventures, Clermount, Global Brain, its corporate venture capital partner JCG Mirai, and On Capital.
This strategic investment will provide BPS with crucial resources and partnerships, empowering the company to expand its presence in Africa’s energy sector and address critical infrastructure challenges related to power supply.
Founded in 2013 by Bimbola Adisa, BPS is committed to optimizing Africa’s electrical grid through innovative, data-driven solutions and advanced grid management tools. These efforts aim to enhance the reliability and efficiency of electrical services across the continent.
In sub-Saharan Africa, where over 600 million people—approximately 43% of the population—lack access to electricity, the demand for efficient power solutions is pressing. While countries like Ghana, Rwanda, and Kenya are making significant progress towards achieving universal electricity access by 2030, others like Nigeria continue to struggle with grid instability, experiencing multiple national power grid collapses this year alone.
To address these challenges, BPS has developed two AI-powered digital mapping tools. The Customer and Asset Information Management System (CAIMS) organizes and structures data to improve service delivery, while Adora offers real-time tracking and management of power distribution, helping to minimize outages and streamline operations.
Currently, BPS serves over 5 million people through partnerships such as the one with the Electricity Company of Ghana (ECG). Thanks to BPS’s solutions, ECG reported a twofold increase in revenue over two years. Additionally, in early 2024, ECG launched a mobile application to facilitate streamlined access to electricity services.
Expanding its operations across Nigeria, Ghana, Kenya, and Zambia, BPS leverages a global team and data-centric strategies to serve over 50 million customers. The company is supported by a dedicated workforce of more than 200 employees.
