Climate Startup Hohm Energy Raises $8 Million in Seed Funding

Hohm Energy, a pioneering climate startup, announced on Thursday, February 22, 2024, that it has successfully raised $8 million in seed funding.

The funding round was spearheaded by former supporters E3 Capital and 4DX Ventures, with additional contributions from prominent investors including Breega, E4E Africa, TO.org, Tekton Ventures, Sunu Capital, Musha Ventures, and Climate Capital Ventures.

According to details revealed in a statement obtained by Techpoint Africa, the injection of capital will fuel Hohm Energy's ambitious plans to expedite the implementation of its cutting-edge climate fintech strategy.

This strategy aims to propel technological innovation, foster product development, and enhance the skill set of solar installers.

This development signifies a significant stride forward in making rooftop solar energy more dependable, cost-effective, and accessible to a wider demographic, thus heralding a new era in South Africa's technological and solar landscape.

Founded in 2021 by Tim Ohlsen and Emir Gluhbegovic, Hohm Energy has been at the forefront of empowering both homeowners and businesses across South Africa to embrace solar solutions.

The company achieves this by offering access to accredited solar installers, product suppliers, and integrated solar financing.

At the core of Hohm Energy's operations lies its proprietary software platform and marketplace, acting as a nexus connecting all stakeholders within the solar value chain.

Through this platform, solar installers can efficiently oversee, finance, design, and procure solar projects, while customers can digitally assess their properties' solar energy potential and access credit financing options for rooftop solar installations.

Source: Osamu Ekhator / Techpoint Africa