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Douglas & David, Innovex co-founders at main office in Kampala

Ugandan Startup Raises Funding from French Impact Fund to Expand Operations

It was founded in 2016 by Douglas Baguma and David Tusubira, both who graduated from Makerere University.
posted onJanuary 20, 2021

Innovex, a Uganda-grown startup enabling pay-as-you-go and remote monitoring for solar companies, closed an equity investment from Gaia Impact Fund to expand its operations.

The startup had developed technology that helps installers and distributors of off-grid solar energy systems to scale up using digital tools.

It was founded in 2016 by Douglas Baguma and David Tusubira, both who graduated from Makerere University.

This was after realizing that solar energy had the potential to bridge the energy access gap for the 30 million Ugandans remaining without electricity, but were frustrated the technology was not reaching Ugandans fast enough.

There are 300 active solar companies in Uganda alone, and thousands more in sub-Saharan Africa. Baguma says their aim is to reduce the cost of installing solar while easing the process and with this seed fund, this process will be easily facilitated as they expand to more countries.

“The biggest challenges that are faced with most solar companies revolve around selling a product at a price that is high for the people that need it most. Our efforts at Innovex are aimed towards fixing how solar energy is delivered both as a product and as a service to these low-income populations and we strongly believe that modern technologies have a transformational role to play. It is exciting that Gaia Impact Fund has bought into our mission and most importantly decided to make a bold move by investing in this future,” he said in a statement.

On his part, Tusubira says: “The problem that we are solving is massive. It requires a great deal of commitment to transform the distribution of solar energy. We are delighted to have strong partners who recognize the urgency of the challenge in Gaia Impact Fund. We are also excited for the magnitude of impact that lies ahead.”

The team has developed ‘Remot’, a cloud-based IoT solution enabling solar companies, EPC and distributors to remotely monitor and manage their energy systems.

‘Remot’ has transformed the way many of these solar companies do business such as better aftersales support and opening up pay-as-you-go for larger size solar systems.

This has reduced overall downtime and improved the accessibility of solar systems and equipment. Many of these solar assets are installed in facilities such as health centers, schools and SMEs across the 5 countries in the East African region i.e., Uganda, Kenya, Tanzania, DRC and Ethiopia.

Gaia Impact Fund will support the company’s efforts to scale ‘Remot’ to 100 solar distributors across Africa thus enabling solar energy access to 3 million people by 2023.

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