The Drum Has Heard: Koolboks Secures $11M to Power a Cooler, Brighter Africa
From a silent struggle for survival to a powerful new rhythm of hope. This is not just a funding round. It’s the answer to a continent’s cry for sustainable cooling and economic empowerment.
The Drum Listens.
In Africa, the talking drum does not beat for nothing. It is a conduit, a messenger, and a storyteller. But before it speaks, it listens—to the silent struggles, the hidden hardships, and the whispered dreams of the people. For years, the drum has heard these quiet rhythms:
- The rhythm of a woman in a bustling market, her small business a testament to her strength, yet her profits are fragile, tied to the whims of a failing power grid. She hears the silent ticking clock as her fresh fish and vegetables begin to spoil, forcing her to pour away her inventory and her earnings at sunset.
- The rhythm of a mother, a small-scale entrepreneur, watching her hard-earned money evaporate into the running costs of a diesel generator. She knows that every liter of fuel is a compromise, swallowing her profits before the week even ends.
- The rhythm of a dedicated nurse in a rural clinic, her heart beating in sync with the flickering lights, praying that the life-saving vaccines and medical supplies in her fridge will survive the night’s blackout.
These are not just isolated stories. They are the collective experiences of a continent grappling with the dual challenges of unreliable energy and a rapidly warming climate. The demand for cooling is a matter of food security, health, and economic independence. The drum has heard. And now, it is time for the answer.
The Drum Answers.
This month, the drum beats with a new sound—the sound of a solution. Koolboks, the Nigeria and France-based African cleantech company, has secured a landmark $11 million in Series A financing. This is not a moment of corporate celebration alone; it is a powerful, resounding answer to the cries the drum has heard for so long.
The rhythm of this new chapter is a collaboration, a symphony of purpose and capital led by visionary partners who believe in our mission. We are deeply grateful to KawiSafi Ventures, Aruwa Capital, and All On, who co-led this round. They are joined by a powerful ensemble of debt and grant providers, including the French Facility for Global Environment (FFEM), Bpifrance, PREO, Efficiency for Access, Innovate UK, BGFA Uganda, CEI Africa, and the Shell Foundation.
But this raise is not just about money. It is the drum answering with tangible, life-changing solutions that will resonate across the continent:
- Expanding Access with Koolbuy: We are building a movement for accessible, sustainable cooling. Our innovative financing arm, Koolbuy, allows every woman, every farmer, and every small business owner to get a Koolboks solar freezer with flexible, affordable pay-as-you-go plans. It’s about owning a piece of the future, today.
- Championing a Circular Economy with Scrap4New: Our commitment to the planet is as strong as our commitment to our people. The Scrap4New trade-in program ensures that old, inefficient appliances are given a second life or recycled responsibly, reducing e-waste and making our technology even more accessible. It’s a win for the community and a win for the environment.
- Building a Future, Locally: A cornerstone of this raise is the establishment of our very first local assembly plant in Nigeria. This is more than a factory; it is a promise. By bringing our operations home, we will create jobs, build local expertise, and significantly trim logistics and import costs. This efficiency translates directly into a 15–20% price reduction for our end-users—making our life-changing technology even more affordable.
The Rhythm Ahead.
Since our founding in 2018, we have consistently demonstrated that our model works. We have deployed more than 10,000 Koolboks off-grid refrigerators across 25 countries, from the bustling markets of Nigeria to the remote villages of Côte d’Ivoire and Senegal. Every beat is a story of survival turned into strength. Every unit we deploy is dignity restored. Every rhythm is a possibility unlocked.
We know the path ahead is not without its challenges. Regulatory hurdles and financing complexities in some markets have slowed our progress. But with this new funding, we will deepen our penetration in our strongest geographies and lay the groundwork for a new chapter of strategic expansion.
The drum never stops after one answer. It will continue to listen to the dreams of new entrepreneurs, the potential of thriving communities, and the ambition of a continent reaching for a brighter, cooler future.
This funding is a down payment on that future. A testament to our belief that a business can be both a force for good and a driver of innovation. And when the drum speaks next… it may just change how Africa cools forever.
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👉 [Feel the Beat →] (link to the official press release)
With gratitude,
The Koolboks Team
