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D.light, a for-profit social enterprise that sells solar-powered products, has raised $22.5 million in funding to push its wares into more off-grid communities around the world.
Founded in 2006, D.light manufactures and distributes a range of solar lighting products, including the D30 bundle, which includes a solar panel, battery-charging pack, solar lights, switches, FM radio, and a torch and is underpinned by D.light’s pay-as-you-go platform.
Prior to today, D.light had raised north of $25 million dollars, and its latest cash influx consists of a number of components. The round includes $15 million Series D funding from Omidyar Network, a philanthropic investment firm established by eBay founder Pierre Omidyar; KawiSafi Ventures Fund, a new VC firm specializing in off-grid energy; Energy Access Ventures; and NewQuest Capital Partners.
Additionally, the company has raised a $5 million grant from Shell Foundation, the U.S. Agency for International Development – Development Innovation Ventures (USAID-DIV), and United Nations Capital Development Fund (UNCDF). D.light has also nabbed $2.5 million in debt funding through SunFunder.
With its fresh funding, D.light says it will push to accelerate sales for its D30 solar home system, in addition to bringing to market new products capable of powering more devices, including televisions and fans.
“We are thankful for the support from these global organizations, which is instrumental for achieving our goal to bring safe and affordable energy to off-grid families,” said D.light chief finance officer Kamal Lath. “Consumer financing for solar home systems makes the technology significantly more affordable for our customers. This funding will enable more families and business owners to enjoy access to the affordable, clean, and reliable solar energy solutions they need to improve their quality of life.”
D.light currently has five distribution hubs around the world, including the U.S., East Africa, West Africa, India, and Southeast Asia. Over the past decade, the company claims that it has “impacted” 65 million lives with its products and plans to reach 100 million people by 2020.
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