South Africa Power Cuts See Record Seed Round for Solar Startup
- Hohm Energy raises $8 million in its seed-funding round
- Hohm connects households with solar installers, financiers
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Interminable power cuts have driven a record seed-funding round for South African startup Hohm Energy, which connects homeowners with installers and financiers to ease the process of installing rooftop solar panels.
The Johannesburg-based company raised $8 million from venture capitalists including E3 Capital and 4DX Ventures LP, eclipsing the previous seed funding record in the country of $5.3 million set by Inseco Ltd., which converts maggots into insect oil and meal, it said in a statement on Wednesday.