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Innovex raises seed funding

Uganda: Innovex, an Uganda-based startup enabling pay as you go (PAYG) and remote monitoring for solar companies, has closed a seed funding round to help it scale its technology across Africa.

Founded in 2016 by Douglas Baguma and David Tusubira, Innovex has developed “Remot”, a cloud-based Internet of Things (IoT) solution that transforms the distribution of off-grid solar energy systems and equipment using digital tools by enabling solar companies, EPC, and distributors to remotely monitor and manage their energy systems.

Innovex is already working with companies that have solar systems installed in institutions such as health centers, schools, and rural farms across Uganda, Kenya, Tanzania, the Democratic Republic of Congo (DRC), and Ethiopia, and is now planning on scaling that after raising an undisclosed amount of seed funding from the Gaia Impact Fund. A French fund dedicated to energy access entrepreneurs, Gaia has so far invested in 11 innovative companies across Africa and Southeast Asia and is actively pursuing its investment strategy with strong social and environmental impact.

Innovex will use the funding to scale Remot to 100 solar distributors across Africa, thus enabling solar energy access to three million people by 2023.

“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 has bought into our mission and most importantly decided to make a bold move by investing in this future,” said Baguma.

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Disrupt Africa

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