April 22, 2017 IBOMLLC Team

Kenya’s PayGo Energy secures $1.43 million in Series Seed funding to build Smart Meters

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

A Kenya-based energy startup, PayGo Energy has raised $1.43 million in a round of Series Seed funding to propel its offering into the next generation of smart meters. This is a strategic move taken to scale up operations across Nairobi.

PayGo provides clean cooking fuel to the masses on a pay-as-you-go plan and aims at democratizing LPG (Liquefied Petroleum Gas or Propane) to 2.0 billion people across the globe that lack clean cooking fuel. To achieve that, PayGo has come up with a smart meter for the gas cylinders and cooking stoves, which they deliver to households upon payment of a small upfront fee. The money is used in the installation of the necessary tools.

One a household has been supplied with the PayGo; they can benefit from cooking using LPG fuel which has little to no health risks, and pay-on-the-go basis through mobile money. The smart meters also benefits users in an additional way of monitoring the consumption and contacting PayGo when the LPG level inside the cylinder is getting low. The startup, will then deliver a replacement cylinder filled with LPG to the customers’ doorstep …read more

Read more here:: Kenya’s PayGo Energy secures $1.43 million in Series Seed funding to build Smart Meters

      

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