, a social enterprise that manufactures and distributes off-grid solar lighting and power products, has announced equity and grant funding totaling $10.5 million to expand its operations in Africa and Asia.
The funding includes a $5 million equity raise from , a Norwegian government-owned investment fund, and grants totaling $5.5 million from , a partnership launched by 's initiative, and the . The funds will enable d.light to bring off-grid power to more low-income families using pay-as-you-go financing solutions in Asia and Africa, where the company has sold more than fifteen million products in sixty-two countries since 2007.
The funding brings to more than $40 million the amount d.light has raised since last September, including a $22.5 million Series D funding round — $15 million in equity, $2.5 million in debt financing, and more than $5 million in grants — and another $7.5 million in debt financing, both from impact investor .
"Norfund invests in profitable and sustainable enterprises that contribute to economic growth and poverty alleviation," said Mark Davis, head of clean energy investments at Norfund. "Access to energy is a key input for development, and we believe energy mix for the foreseeable future also will include off-grid solutions, in particular for rural households and businesses. As the leading provider of off-grid solutions in emerging markets, d.light is a good addition to our energy portfolio, mostly consisting of utility scale projects connected to the grid."