Dubai-based Solar Company Enerwhere has secured recently a second new funding round of $940K from Eureeca crowdfunding platform.
In 2017, Enerwhere raised $1 million - the largest equity crowdfunding round on Eureeca to-date, successfully enabling Enerwhere to more than double revenue in 2018.
Founded in 2012, Enerwhere is the world’s first distributed solar utility company, based in Dubai. The solar company uniquely combines a range of technologies to provide the cheapest, cleanest, and most efficient energy solution to meet the power needs of customers in construction, oil & gas, mining, hospitality, and manufacturing sectors.
The company has achieved 90% energy sales growth with 150%’s revenue increase and more than 500% system sales growth since 2017.
Enerwhere will use the funds to procure additional solar and battery equipment and to fund working capital.
Also, the management is planning to invest 60% of the funds in assets. The investment will be deployed quickly into existing contracts and near-term pipeline.
Enerwhere also wants to develop intellectual property and patent the technology to remain the leading solar utility company in the MENA region.
In order to fund its triple-digit annual growth, Enerwhere is currently raising funds through the eureeca.com equity crowdfunding platform.
Enerwhere ,a DEWA certified company with the largest pipeline of all contractors in Dubai is the First solar company to substitute manual labor with robotic cleaning in the UAE and has connected more than 6000 people and 380K trees saved, and 14K tons of CO2 reduction.
Enerwhere comes in the 22nd spot in Forbes Middle East’s list “top 100 startups in the Middle East in 2018.