d.light is a pioneer in innovation in solar energy product development and announced the closing of a US$7 Million equity funding round.
“We are thrilled to have OP Finnfund Global Impact Fund I as a d.light stakeholder,” d.light co-founder and CEO Ned Tozun said of the investment. The fund’s vision and commitment to job creation and development make them an excellent partner for d.light as we embark on our next chapter of expansion.”
“We are confident that as we grow our global reach and product portfolio to please our customers, we will continue to accelerate and deepen this impact.” “D.light and the off-grid solar business as a whole have a bright future.”
Since 2006, d.light provides solar energy to more than 125 million people in 70 different countries.
There are many products in their product line, from small handheld solar lanterns to larger solar home systems that can power multiple lights and phones to more powerful solar appliances like flat-screen TVs.
Since its inception d.light has been a strong advocate for product quality and customer services. This has led to a loyal customer base in developing markets. Despite its high quality products, the solar company still sells hundreds of thousands of units per month.
The solar company was founded by Mr. Tozun, Mr. Goldman and they had a lofty goal: 100 million people by 2020. This goal was met. d.light now has a new mission. It aims to transform the lives and livelihoods of one million people by 2030.
This new round of funding will be used to expand the company’s solar and Pay-Go consumer credit operations throughout Africa.