Madica backs Nigerian clean energy startup Earthbond with $200,000
- Earthbond raised $200,000 in pre-seed funding from Madica.
- Over 1,800 SMBs have joined Earthbond’s waitlist.
- Earthbond has audited the solar power needs of over 100 businesses in Lagos.
Earthbond's innovative approach to facilitating solar energy adoption among small businesses in Nigeria is commendable, especially in light of the increasing fuel prices and unreliable power supply. However, the success of their model will depend on effectively managing partnerships with financial institutions and ensuring that the financing options are accessible and attractive to the target market.
