Plentify, the pioneering South African climate tech company, uses its suite of products to connect to home appliances, helping them draw energy at optimal times. This ensures that appliances deliver desired services, generate major savings on energy bills through efficiency gains, and maximise energy use during clean energy periods while minimising it during constrained times. Their flagship product, HotBot, connects to electric water heaters, optimising energy use and contributing to a virtual power plant that shifts energy use from peak, costly times to periods when renewable energy is abundant.
"Plentify has built a product that has the potential to revolutionise home energy use in SA and beyond. We’re excited to back an exceptional team that is addressing critical energy challenges through sustainable, decentralised solutions," noted Paras Patel, Managing Partner of E3 Capital.
“Whether you’re trying to fix a weak grid like South Africa’s, or make the transition to clean energy like every country in the world, the fundamental problem is the same—a mismatch between the timing of energy demand and clean energy supply. Plentify’s residential load management platform addresses this problem for 75% less than the cost of batteries,” says Jon Kornik, Co-Founder and CEO of Plentify.
The round, which included a mix of existing and new investors, such as Third Sphere, TELUS Pollinator Fund for Good, Susquehanna Foundation and Fireball Capital will enable Plentify to further accelerate its growth into new markets. The company's model of using intelligence to connect appliances with clean energy not only serves the needs of today's markets but also sets a blueprint for the future of energy management in smart homes worldwide. With solid backing, a clear vision, and a capable team, this investment is sure to unlock the next chapter for Plentify.
Follow the links here to read the full Press Release - Tech Financials, Disrupt Africa
Plentify is a smart energy company that makes affordable, reliable and clean electricity a reality for everyone. Based in South Africa and the United States, its well-rounded team of energy, data science, hardware, software and business experts - fuses advanced hardware, artificial intelligence and user-centric design to create smart home products that strengthen electricity systems for everyone. To learn more about Plentify visit: https://plentify.io/.
E3 Capital is a leading early-stage venture capital firm, investing in businesses that enable digitised, decentralised, and decarbonised models across Africa. E3 Capital oversees two pan- African funds: The Energy Access Ventures Fund with focus on energy access and productive use assets, and The E3 Low Carbon Economy Fund I investing in climate tech and digital infrastructure. With extensive experience across the team, E3 Capital is uniquely positioned to help companies scale and bring solutions to market for the climate challenges facing the continent and beyond . The team backs forward-thinking entrepreneurs aiming to bridge the gap between climate transition and growth in emerging markets with digital technology. To learn more about E3 Capital visit: https://e3-cap.com/
