Rana Energy Secures $3 Million Pre-Seed Funding to Accelerate Africa’s Clean Energy Revolution

Mary Nnah

Rana Energy, an AI-powered Clean Energy-as-a-Service ecosystem, has announced the successful close of its $3 million pre-seed funding round. The funding will enable the company to accelerate Africa’s transition to clean, affordable, and reliable energy.

The round comprises $500,000 in equity from Techstars, EchoVC Eco, and leading angel investors, including Chinedu Azodoh and Tayo Bamiduro, co-founders of MAX, alongside a $2.5 million local currency green debt note arranged by Optimum Global and backed by FSDH Asset Management.

Founded in 2023 by engineers Abraham Mohammed and Mubarak Popoola, Rana Energy is pioneering Africa’s AI-driven digital utility. Its Virtual Solar Network (VSN) is an intelligent ecosystem that forecasts energy demand, aggregates solar and storage projects into investable portfolios, and remotely manages distributed clean energy assets.

Rana provides clean energy subscriptions with no upfront costs, driving immediate savings and long-term impact for communities and businesses. “Before Rana, we were spending over ₦2.5 million monthly on diesel at our Physiotherapy clinic. Now, we have 24/7 clean power at 25% less cost, and our patients know they can count on us during emergencies,” said Dr. Boroji Osindero, Medical Director at Wellness Centre, Lagos.

Mubarak Popoola, Co-Founder and CTO of Rana Energy, said, “Execution is everything in this market, and Rana delivers at lightning pace. In just 18 months, we’ve deployed 1.3 MW of solar and storage capacity across Nigeria, achieving 99.9% uptime, reducing diesel dependence by over 80%, and slashing energy costs by up to 30% for our clients.”

With this funding, Rana plans to expand its VSN asset base to 10 MW over the next 12 months, powering battery swap stations, hospitals, supermarkets, and industrial facilities across Nigeria, Ghana, and Zambia. These assets are expected to avoid over 450,000 kg of CO₂ emissions annually, proving that distributed, AI-managed energy infrastructure can be scaled and sustained across Africa.

Abraham Mohammed, Co-Founder and CEO of Rana Energy, said, “We have shown that sub-1 MW clean energy systems, when aggregated, can attract institutional capital, deliver strong returns, and drive measurable impact. By blending venture equity with structured green debt financing, we have built a replicable model for Africa’s energy transition.”

Eghosa Omoigui, Managing Partner, EchoVC Eco, added, “Rana represents everything we look for in climate infrastructure: exceptional founders solving a massive problem with breakthrough technology and innovative financing. Abraham and Mubarak have built the first truly scalable solution to Africa’s $20 billion energy access gap.”