Solar cooling startup Koolboks raises $11 million to expand across Africa
- Koolboks raised $11 million in Series A funding to expand its cooling-as-a-service business across Africa.
- The funding will support the establishment of a local assembly plant in Nigeria within the next 12–18 months.
- Koolboks has deployed over 10,000 solar freezers across 25 countries, with Nigeria being the largest market.
Koolboks is making significant strides in addressing the critical need for affordable cooling solutions in Africa, particularly for small businesses that are often overlooked. Their innovative approach of combining solar technology with flexible financing and IoT monitoring not only empowers local entrepreneurs but also contributes to sustainability and economic growth in the region. However, the challenges of regulatory hurdles and market penetration in tougher regions like Kenya need to be addressed for broader impact.
