Daystar Power Raises USD 38 Mn In Series B Funding

Nigerian Energy startup Daystar Power has raised USD 38 Mn in Series B round led by Investment Fund for Developing Countries (IFU), the Danish Development Finance Institution (DFI). Other investors include STOA, a French Impact Infrastructure Fund, Proparco, the French DFI, backed by a guarantee from the European Union under the African Renewable Energy Scale-Up facility (ARE Scale-Up) and Morgan Stanley Investment Management.

Founded in 2017, Daystar Power provides energy solutions to commercial and industrial businesses in West Africa enabling access to affordable power solutions.