d.light brings total raised in 2016 to $30m
On 31 October, d.light annnounced that it has secured $7.5 million of funding from Developing World Makets. This funding brings the total secured this year to $30 million. The funding further supports solar lantern and pay-as-you go solar home system development.
Peter Johnson, Managing Partner of Developing World Markets said: “We’re proud to support d.light’s mission to bring safe and affordable solar energy solutions to the more than two billion people without reliable access to energy."
With this latest round of debt financing, d.light expects to ramp up sales for its products, in particular of the solar home systems, and also bring new products to market, including solar-powered appliances, such as TVs.
“We’re thankful to Developing World Markets for this support, which helps d.light accelerate development and distribution of our increasingly popular solar home systems and our portable solar products,” said Kamal Lath, CFO of d.light. “By enabling us to build on our product offerings, this funding helps us empower people to improve their quality of life.”
To date, d.light has impacted the lives of over 65 million people and aims to empower 100 million people with affordable and reliable solar by 2020.
Read the full press release.