BBOXX

BBOXX operates a utility platform providing off-grid solar energy systems.

Rwanda—Founded 2010—Website

£71.5MTotal raised

BBOXX operates a utility platform that provides solar systems combining panels and batteries on a pay-as-you-go model. The firm supplies electricity to households, schools and businesses across frontier markets.

Founders

Mansoor Hamayun

CEO and co-founder

Mansoor brings energy and critical minerals experience, having co-founded BBOXX and chaired Minexx. He previously held leadership roles at Rolls-Royce.

Investors

Series D+28 August 2019
£41.1M
MC
Mitsubishi CorporationLead
ER
ENGIE Rassembleurs d’Energies
BC
Bamboo Capital Partners
DP
DOEN Participaties
MB
MacKinnon, Bennett & Company
Debt22 May 2019
£6.3M
Ff
Facility for Energy Inclusion Off-Grid Energy Access Fund
Series D+13 January 2019
£24.1M
AI
Africa Infrastructure Investment ManagersLead

Funding history

Series D+28 August 2019

£41.1M

BBOXX raises £41.1m in Series D funding led by Mitsubishi to accelerate international expansion.

The Series D round was led by Mitsubishi Corporation with backing from investors across three continents.

Debt22 May 2019

£6.3M

BBOXX secures £6.3m in debt finance from the Facility for Energy Inclusion Off-Grid Energy Access Fund to expand solar energy in Rwanda.

The local currency loan from FEI OGEF will accelerate the deployment of solar home systems across Rwanda.

Series D+13 January 2019

£24.1M

BBOXX secures £24.1m from Africa Infrastructure Investment Managers to expand off-grid solar operations

Africa Infrastructure Investment Managers backed the utility platform through its AIIF3 fund for a minority stake.