Summary
- Hohm Energy, a South African Climate Fintech company, secures a record-breaking $8 million in a Seed round led by E3 Capital and 4DX Ventures.
- The funding will accelerate the adoption of rooftop solar in South Africa, addressing the country’s escalating energy crisis and making solar more accessible through cutting-edge climate fintech strategies and tech innovations.
- Hohm Energy’s initiatives include empowering solar installers, forming partnerships with major financial institutions, introducing a digital solar purchasing experience, and launching the Hohm School program to train and empower local solar installers.
Hohm Energy has secured a $8 million in a Seed round led by E3 Capital and 4DX Ventures. This funding is set to propel Hohm Energy’s mission to scale the adoption of rooftop solar across the region, addressing not only the growing energy crisis but also revolutionizing the entire solar journey through innovative climate fintech strategies.
With E3 Capital and 4DX Ventures as the leading investors, the investment also attracted participation from Breega, E4E Africa, TO.org, Tekton Ventures, Sunu Capital, Musha Ventures, and Climate Capital Ventures. Thi backing reflects the confidence these investors have in Hohm Energy’s vision and potential impact on South Africa’s $51.4 billion rooftop solar market.
Founded in 2021 by Tim Ohlsen and Emir Gluhbegovic, Hohm Energy aims to revolutionize the solar industry by making rooftop solar more accessible, trusted, and affordable for homeowners and businesses. The company achieves this through its proprietary software platform and marketplace, streamlining the solar journey and addressing challenges in the complex rooftop solar market.
South Africa currently grapples with an escalating energy crisis, leading to daily electricity rationing to prevent a nationwide grid collapse. Hohm Energy steps in as a sustainable alternative, providing solar solutions to 7.7 million households. With over 17,000 custom solar rooftop designs generated, the company has facilitated finance applications worth over $90 million to retail banking partners, helping ease the strain on the national grid.
Hohm Energy isn’t just transforming the experience for consumers but is also empowering solar installers. Through its platform, installers gain trust and efficiency in designing, managing, financing, and procuring solar projects. The company’s partnerships with major South African financial institutions enable customers to access structured financing, making solar installations financially viable for a wider audience.
Hohm Energy is not stopping at rooftop installations. The company now offers a solar subscription service powered by Glint, providing an all-new digital solar purchasing experience. This innovation is set to make solar energy even more accessible to South African households.
In a bid to contribute to skill development and empower local solar installers, Hohm Energy will be launching the Hohm School program. This initiative, guided by the Hohm Energy Standard for Solar Systems Installations (HESSSI), is poised to train and empower local installers across the country.
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