Ugandan electric cooking startup PowerUP raised Seed funding for expansion
In order to expand into new markets and product lines, Uganda-based electric cooking startup PowerUP has announced the first close of its seed round.
Over 40,000 homes in Kenya, Uganda, Tanzania, Zambia, and Ghana have improved their cooking conditions thanks to PowerUP’s development and implementation of smart-metered PAYGO electric stoves tailored for the continent’s markets.
With the help of Autodesk Foundation and Delta40, a Nairobi-based venture studio and VC fund that supports and invests in inclusive climate ventures, the startup has now secured seed funding.
With the proceeds from this new round of funding, PowerUP plans to develop its data platform, start a shared carbon program, and increase its distribution reach.
“Cooking has been done the same way for centuries – setting fire to an inefficient fuel to heat a pot that holds food. It is time to go beyond fire and use the most efficient fuel. Our electric cooking solutions will save money, save time, and avoid harmful fumes for millions,” said CEO Kato Kibuka.
Later this year, PowerUP will introduce a new line of electric stoves to cater to the various cooking styles found throughout Africa. It plans to invest in data leveraging to improve customer understanding and digitalize its carbon credit program’s activities.
