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Beacon Power Services (BPS), a leading energy tech company delivering data-driven grid management solutions, has closed a Series A funding round led by by Partech. Other investors in this round include Finnfund, Gaia Impact, Proparco, and previous investors Kaleo Ventures and Seedstars Africa Ventures. Additional investors in this round include Clermount, Global Brain and its CVC partner JGC MIRAI Innovation Fund, and On.Capital.
With Clermount serving as the financial advisor, the funding will support BPS in enhancing its product suite. It will help it in scaling its current operations, and expanding into new markets across Eastern and Southern Africa.
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Africa’s power grids marred by aging infrastructure and unreliable data
Africa’s power grids face ongoing challenges due to aging infrastructure and unreliable data, impacting service consistency and utility performance. BPS aims to transform African utility management with tailored, data-driven solutions that address these unique challenges. BPS’s flagship platforms, CAIMS (Customer and Asset Information Management System) and ADORA (for real-time grid monitoring), are AI-enabled systems designed to empower utilities with efficient, real-time data. CAIMS provides digital mapping and asset management, facilitating smarter decision-making and improved service for customers, while ADORA enables enhanced operational oversight to reduce outages and improve power distribution efficiency.
Bimbola Adisa, Founder & Chief Executive Officer of BPS
BPS’s solutions have already made significant strides in Ghana, where they’ve partnered with the Electricity Company of Ghana (ECG) to digitize operations for more than five million customers, doubling ECG’s revenue within two years. With Series A funding, BPS plans to further refine these solutions and drive growth across Africa, targeting regions in critical need of grid modernization and reliable power distribution.
Cyril Collon, General Partner at Partech, stated, “Beacon Power Services has transformed grid management for utilities in Nigeria and Ghana, embodying the impact-driven mission of our Partech Africa Fund II. BPS exemplifies African founders’ potential to solve the continent’s most pressing issues, and we are excited to support them as they scale their operations.”
Partnership fosters private sector’s role in sustainable development
Fabrice Perez, Head of Proparco’s VC division, shared similar enthusiasm, noting, “BPS’s solutions are a tangible answer to Africa’s grid efficiency challenges. This partnership underscores our commitment to fostering the private sector’s role in sustainable development across the continent.”
Founder and CEO of BPS, Bimbola Adisa, emphasized the importance of accurate data in addressing Africa’s energy needs: “Our approach provides utilities with actionable insights, empowering them to deliver more reliable electricity and optimize operations. Data remains at the core of all our solutions, vital to addressing energy issues across urban centers in Africa.”
Since its 2022 seed round, BPS has grown significantly, employing over 200 people across Africa and the U.S. With a daily impact on over 50 million consumers and over 1 billion grid data points processed, BPS is positioned to drive sustainable energy solutions across the continent.
