Rana Energy Raises $3M to Expand AI-Powered Clean Energy Platform

Rana Energy Co-Founders: Abraham Mohammed (CEO) and Mubarak Popoola (CTO)

Nigerian clean energy startup Rana Energy has successfully raised $3 million in pre-seed funding to accelerate the deployment of its AI-driven Clean Energy-as-a-Service platform across Africa. The funding round includes $500,000 in equity from Techstars, EchoVC Eco, and prominent angel investors such as Chinedu Azodoh and Tayo Bamiduro (co-founders of MAX), alongside $2.5 million in green debt arranged by Optimum Global and backed by FSDH Asset Management.

Building Africa’s First Virtual Solar Network

Founded in 2023 by engineers Abraham Mohammed and Mubarak Popoola, Rana Energy is pioneering a new model for distributed clean energy through its Virtual Solar Network (VSN). This AI-powered digital utility aggregates and manages solar and battery assets, enabling businesses and communities to subscribe to clean energy without upfront costs. The platform offers features such as predictive maintenance, energy demand forecasting, and remote asset control, making clean energy both accessible and intelligent.

In just 18 months, Rana has deployed 1.3 MW of solar and battery systems across Nigeria, achieving 99.9% uptime and reducing diesel dependence by over 80%. Clients have reported energy cost savings of up to 30%, with one Lagos-based physiotherapy clinic cutting monthly diesel expenses by 25% while gaining 24/7 clean power. Among Rana’s flagship projects is a 5 MW Energy Security and Sustainability Program at the National Defence College (NDC) in Abuja, which includes Nigeria’s largest solar carport installation.

Rana Energy plans to expand its VSN capacity to 10 MW within the next year, with initial growth targets in Ghana and Zambia. Its long-term vision is to deploy 100 MW of solar infrastructure across Africa by 2028, aiming to displace diesel generators and support the continent’s transition to renewable energy.

Recognition and Challenges Ahead

Rana’s innovative model has earned it a spot in the Google for Startups Accelerator Africa Class 8, highlighting its growing influence in the region’s clean-tech ecosystem. The startup’s hybrid financing structure, combining equity and green debt, alongside its AI capabilities, gives it a competitive edge in a challenging market. However, Rana will need to navigate hurdles such as currency volatility, high import tariffs on solar components, and battery supply constraints. Despite these challenges, its rapid execution and customer-centric approach position it as a key player in Africa’s clean energy revolution.

Source: Innovation Village