Nigerian startup Rana Energy announced that it has secured $3 million in pre-seed funding to scale its AI-powered clean energy platform. The funding round included $500,000 in equity from Techstars, EchoVC Eco, and several angel investors, along with a ₦2.5 million green debt facility arranged by Optimum Global and backed by FSDH Asset Management.
Rana Energy operates the Virtual Solar Network (VSN) — a digital platform that leverages AI to forecast energy demand, aggregate solar and storage systems into bankable portfolios, and manage them remotely. This innovative service enables businesses and institutions to access dependable electricity through a subscription model, effectively lowering operational costs and reducing reliance on diesel generators.
“In just 18 months, we’ve deployed 1.3 MW of solar and storage capacity across Nigeria, maintaining 99.9% uptime, cutting diesel usage by over 80%, and decreasing energy costs by up to 30% for our clients,” said Mubarak Popoola, Rana Energy’s co-founder.
Looking ahead, the company aims to expand its installed capacity to 10 MW within the next year and extend operations into Ghana and Zambia. Across sub-Saharan Africa, many businesses depend on diesel generators due to unstable public electricity grids. Rana Energy’s approach — integrating local financing, AI technology, and distributed solar infrastructure — delivers a cleaner, more reliable, and cost-effective power solution for commercial and industrial users.
