Madica invests $200,000 in Nigerian clean energy startup Earthbond
- Earthbond secured $200,000 in pre-seed funding from Madica.
- The startup assessed solar power needs for over 100 businesses in Lagos.
- More than 1,800 SMBs are on Earthbond's waitlist for solar solutions.
Earthbond's approach to facilitating the transition to solar energy for small businesses in Nigeria is commendable, especially given the current energy challenges. Their focus on financing options and partnerships with microfinance banks could significantly alleviate the financial burden on SMBs, making clean energy more accessible. However, the success of their model will depend on effective execution and the ability to scale operations amidst competition in the renewable energy market.
