Cleantech startup Stride raises $2m to support Vietnam’s clean energy transition

Vietnamese cleantech startup Stride has announced raising $2 million in a Seed funding round jointly led by Clime Capital and Touchstone Partners.

Stride provides eco-friendly home improvement projects, smart home technology, energy-efficient products, and solar energy solutions to households and small businesses in Vietnam, pioneering a path to a clean energy future in the country with an affordable and transparent system.

It offers a simple payment method for eco-friendly home improvement projects and solar installations at the point of sale with 0% interest. This unique financial approach has led to Stride’s impressive growth over the past two years. The company stands as the first in Vietnam to offer low upfront-cost financing, complimentary insurance, independent quality assurance, and a streamlined online consumer onboarding process.

Vietnam, a rapidly industrializing nation, has been increasingly turning its focus towards the clean energy transition as part of its strategy to become more environmentally sustainable and combat climate change.

This shift comes as Vietnam, like many nations around the world, strives to meet international commitments to reduce greenhouse gas emissions and limit global warming.

One of the key elements of Vietnam’s clean energy transition is the large-scale adoption of renewable energy sources. The government has shown strong commitment to developing and implementing policies that encourage renewable energy use, particularly solar and wind power.

Vietnam’s Power Development Plan 8 highlights the country’s intentions to increase the proportion of renewable energy in its power mix, emphasizing the installation of solar systems for self-consumption in homes and businesses.

Andrew Fairthorne, CEO at Stride, welcomed the investment from Clime Capital and Touchstone Partners. He expressed his excitement about this partnership, which he said would enable Stride to speed up its deployment of clean energy solutions, thereby assisting households and small businesses across Vietnam in reducing energy expenses and helping the country achieve its net-zero targets.

Joshua Kramer, CIO at Clime Capital, noted that their investment will support Stride during a critical growth stage. He believes that Stride’s effort to provide quality assurance and financing reduces the barriers to rooftop solar and other clean energy solutions adoption, thus enabling customers to save money while shrinking their carbon footprint.

By making green energy projects more accessible and affordable, Stride is enabling more people to participate in Vietnam’s quest to achieve carbon neutrality. In doing so, consumers will not only contribute to a sustainable future but also save on their own electricity costs.

With the new investment, Stride said it is positioned to scale its delivery of clean energy solutions and propel Vietnam’s low carbon transition forward.