E3 Capital leads $8m Seed Funding Round in Hohm Energy to accelerate rooftop solar adoption

E3 Capital are proud to lead a $8m Seed Funding Round in Hohm Energy!

E3 Capital have led an $8m seed round in Hohm Energy, the South African Climate Fintech company that connects homeowners and businesses with accredited solar installers, product suppliers, and embedded solar finance. South Africa faces a worsening energy crisis, and daily electricity rationing has become essential to avert the risk of a nationwide grid collapse, thereby increasing the demand for solutions provided by clean tech startups across the continent.

The funding marks the largest seed round for a tech startup in South Africa,which was led by E3 Capital and 4DX Ventures and attracted participation from new investors, including Breega, E4E Africa, TO.org, Tekton Ventures, Sunu Capital, Musha Ventures, and Climate Capital Ventures.

Hohm Energy will now accelerate the adoption of rooftop solar in the region by investing in its new cutting-edge climate fintech strategy, additionally bolstering its tech, product innovation and solar installer skills development to make rooftop solar more accessible, trusted and affordable for everyone.

Vladimir Dugin, Senior Partner at E3 Capital added “We are thrilled to announce our inaugural investment in Hohm Energy. With its tech-driven approach, Hohm is at the forefront of South Africa’s green energy revolution. The team is uniquely positioned to create a “one-stop shop” for all green solutions for residential customers and address existing challenges around energy supply.”

Hohm Energy says its solution was built as an alternative and sustainable energy source for over 7 million addressable households connected to South Africa’s national grid. Founded in 2021 by Tim Ohlsen and Emir Gluhbegovic, Hohm Energy runs a software and marketplace model connecting different stakeholders in the $51 billion rooftop solar market value chain. The clean tech streamlines design, scheduling and procurement for installers while improving accessibility for buyers.

Follow the links here to read the full press release- Tech Crunch PR, Tech Cabal, Bloomberg

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