Sun King has announced it has raised $260 million (£163m) in its latest funding round to widen clean energy access for off-grid homes in Africa and Asia.
To date, the company has helped power the lives of 82 million people across 40 countries through its solar home systems that power lights, mobile phones and larger home appliances.
According to Sun King, its systems are “dramatically more affordable and sustainable” than kerosene or new power lines, allowing customers to leapfrog electrical grids and fossil fuel energy sources entirely.
The latest investment, led by BeyondNetZero, will be used for the company’s continued geographical expansion as well as towards product line expansion, including larger solar systems equipped with AC-electricity inverters, capable of powering larger appliances like refrigerators.
Anish Thakkar, Sun King Co-founder said: “Sun King is leading a global transformation in the way we provide electricity to consumers in Africa and Asia.
“It’s now dramatically more affordable to power a home with a solar system than to extend the electrical grid: for less than the cost of a single electrical pole, we can install an entire solar energy system in-home. This funding will further unlock our ability to scale this revolution to the 1.8 billion people who need these products today and the next billion who will need them tomorrow.”