Off-grid solar firm d.light raises USD 7.5m of additional funds

Solar lighting and power products maker d.light said today it has secured USD 7.5 million (EUR 6.9m) in fresh debt financing from investment manager Developing World Markets.

The company will use the funds to expand its existing solar lantern and home system solutions, as well as to introduce new products, including a solar-powered TV.

The announcement comes a bit over a month after d.light said it had obtained USD 22.5 million in equity and debt financing to grow its PayGo business in new off-grid solar markets. The firm currently operates five distribution hubs in East Africa, West Africa, India, Southeast Asia and the US.

D.light aims at empowering 100 million lives by 2020. It says it is on track to do so given that it had impacted 65 million people with its solar home systems as of August 2016.

(USD 1.0 = EUR 0.914)

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