d.light, a pioneer in solar energy product innovation, announced the completion of a US$7 million equity funding round led by OP Finnfund Global Impact Fund I.
“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 its inception in 2006, d.light has provided solar energy to over 125 million people in 70 countries.
From modest handheld solar lanterns to solar home systems that can power several lights, phones, and other appliances, including flat-screen television, their varied product line has something for everyone.
d.light has placed a strong emphasis on product quality and customer service since its inception, resulting in a loyal customer base in growing markets. Despite maintaining high quality, the solar firm continues to sell hundreds of thousands of units each month.
When Mr. Tozun and Mr. Goldman created the solar firm, they set a grandiose goal for it: to reach 100 million people by 2020. This goal was accomplished. d.light is going on a new mission to change the lives of one billion 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.