The Singapore-headquartered startup was launched in the year 2017 by FORUM, the biggest fintech venture builder in Emerging Asia. SolarHome brings economical pay-as-you-go solar solutions into off-grid households as in Southeast Asia. Whereas SolarHome provides customers with professional installation of integrated solar energy and appliance units. Additionally, it offers highly affordable plans for energy service subscription. With main operations in Myanmar, the company claims to have installed more than 30,000 solar home systems in the country.
Impressive Funding Support
SolarHome, an inordinately renowned solar energy startup that aims at serving off-grid households in Myanmar, has declared that it has managed to raise another US$1 million for equity from Trirec, an investment company that provides assistance to energy tech companies. Trirec has invested SolarHome before as well, which makes this funding a follow-on financing that is a part of SolarHome’s Series A round.
Previously, when Trirec had invested US$4.2 million in SolarHome, it was joined though Insitor Impact Asia and Beenext, and one group of the Singapore-based families offices. Furthermore, SolarHome has announced for the appointment of Mr. Greg Krasnov, as the chairman & founder of the SolarHome, and the CEO of FORUM appointed as the CEO of the company just a few days before the funding announcement was made. Not just that, SolarHome also appointed Mr. Geert-Jan ten Hoonte, wh was a senior adviser and the board member, as president & the COO of the company. SolarHome raised an extra 10 million US$ debt finance from their investors such as cross border crowdfunding platform Trine based in Japan in the year 2018.
Purpose Of SolarHome
Speaking of the growth purpose of SolarHome, the startup has been consistently trying to expand its operations for quite some time. Besides that, the company is delivering some notable social impact on its addressable market capital of around 27 million households surrounding Southeast Asia those who are living outside of the electrical grid. The headquarter of SolarHome is situated in Singapore, and it currently operates in Myanmar. The company has stated that there aim is to complete up to 1 Lakh home installations before the last day of this year.
The Road Map
It cannot be denied that SolarHome is the pioneer in Pay-As-You-Go (“PAYG”) solutions in Southeast Asia. The team at SolarHome strives to enhance the overall living experience of their customers. Last but not the least, feel free to get in touch with SolarHome and avail radically inexpensive PAYG Solutions.
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