In response to South Africa’s escalating energy crisis, Hohm Energy has successfully raised $8 million in seed investment to bolster its efforts in connecting homeowners and businesses with accredited solar installers, product suppliers, and embedded solar finance. The funding, which marks the largest seed round for a tech startup in South Africa, is set to propel the company’s mission of providing alternative and sustainable energy solutions to over 7 million households connected to the national grid.
Key Takeaway
Hohm Energy’s $8 million seed funding will drive the widespread adoption of rooftop solar solutions in South Africa, addressing the pressing need for sustainable energy amid the country’s energy crisis. The company’s innovative software and marketplace model is poised to revolutionize the rooftop solar market, empowering homeowners and solar installers while facilitating significant growth and expansion.
Revolutionizing the Rooftop Solar Market
Hohm Energy’s innovative approach involves a software and marketplace model that streamlines the design, scheduling, and procurement processes for solar installers while enhancing accessibility for buyers. The company’s CEO, Tim Ohlsen, emphasizes the significance of empowering homeowners to embrace clean, renewable energy despite the complexities inherent in the industry.
Empowering Homeowners and Solar Installers
One of Hohm Energy’s standout features is its “Home Ranger” service, which ensures that each installation is meticulously supervised to guarantee technical and legal compliance. The company also offers a digital platform that assesses a property’s solar needs and provides access to credit financing, in addition to facilitating post-sales services such as repair and maintenance.
Facilitating Growth and Expansion
By leveraging its software-first business and marketplace model, Hohm Energy has demonstrated remarkable success, having produced over 17,000 tailored solar rooftop designs and facilitated more than $90 million in finance applications to retail banking partners. The company’s commitment to scalability and sustainability is underscored by its plans to bolster its tech and launch a program to train local solar installers.
