Open Access Energy (OAE), a South African startup specialising in energy management software, has significantly boosted its operations. The company successfully raised $750,000 from Factor E Ventures, marking the first phase of its $1.5 million seed round.
This investment is pivotal for South Africa, a country struggling with severe energy issues characterized by high costs and an unstable power grid. OAE aims to address these challenges by leveraging its advanced software solutions to optimise the distribution and management of renewable energy.
OAE’s flagship platforms, Amptera and Energypro, are designed to facilitate seamless energy transactions and enhance efficiency for independent power producers (IPPs) and municipalities. These technologies promise to improve grid stability, reduce energy costs, and promote sustainable practices by effectively connecting renewable energy sources to areas with high demand.
Gerjo Hoffman, CEO of Open Access Energy, shared, “Factor E Ventures’ investment arrives at a crucial juncture for both our company and South Africa’s energy sector. This support will accelerate our innovation capabilities and market reach.”
Factor E Ventures expressed strong confidence in OAE’s ability to drive the country’s energy transition. “open access energy tackling key inefficiencies in South Africa’s energy sector with its innovative software,” said Tenbite Ermias, Partner at Factor E Ventures. “We are excited to lead their $1.5 million seed round and support their drive toward renewable energy.”
Founded in 2021, OAE has rapidly gained traction in the energy management sector. With this latest investment, the company is poised to become a key player in South Africa’s transition to a cleaner, more decentralized energy system. The seed funding will allow OAE to scale its operations, enhance its technological capabilities, and reach a broader market, ultimately fostering a more stable and cost-effective energy landscape in the region.
As OAE continues to innovate and expand its services, it is set to play a crucial role in enhancing the efficiency and sustainability of South Africa’s energy infrastructure.
