South African climate-tech startup Plentify has secured a substantial funding boost, closing an oversubscribed investment round backed by leading African and North American venture capital firms. The fresh capital will propel the company’s expansion within South Africa and lay the groundwork for its international foray.
Plentify is at the forefront of smart energy solutions, offering affordable, reliable, and clean electricity to consumers through a cutting-edge combination of hardware, artificial intelligence, and user-centric design. The company’s innovative technology optimizes energy consumption by connecting to home appliances and intelligently managing their power draw. This approach not only delivers significant savings on energy bills but also contributes to a more sustainable energy grid.
“We’re tackling a global challenge: aligning energy demand with clean supply,” said Jon Kornik, co-founder and CEO of Plentify. “Our platform offers a cost-effective solution that can be applied worldwide, from strengthening grids like South Africa’s to accelerating the clean energy transition.”
The investment round garnered support from both existing and new investors, including Third Sphere, TELUS Pollinator Fund for Good, Susquehanna Foundation, and Fireball Capital. This influx of capital will enable Plentify to accelerate product development, expand its customer base, and explore new markets.
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“Plentify’s technology has the potential to revolutionize how we consume energy,” said Paras Patel, managing partner of E3 Capital. “We are thrilled to support their mission to create a more sustainable future.”
With this latest funding, Plentify is well-positioned to become a leading player in the global energy transition, delivering tangible benefits to consumers and the environment alike.
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