Plentify, a pioneering climate tech firm from South Africa, has successfully completed a funding round that was 50% oversubscribed, aiming to enhance its growth in the South African market and facilitate international expansion. The funding attracted a diverse group of both existing and new investors, including Third Sphere, TELUS Pollinator Fund for Good, Susquehanna Foundation, and Fireball Capital.
Jon Kornik, Co-Founder and CEO of Plentify, highlighted the company’s strategic focus on identifying opportunities to create significant climate change impact during its global expansion. The newly acquired funds will help the company target international markets with increasing solar energy adoption, particularly in Australia and the United States, both recognized for their favorable regulatory landscapes.
Plentify’s expansion strategy is bolstered by a team with impressive credentials from top-tier organizations such as Google, Tesla, Meta, NASA, and McKinsey. Founded in 2017 by Jon Kornik and Kailas Nair, Plentify is dedicated to delivering affordable, reliable, and clean electricity through advanced technologies. The company leverages a combination of cutting-edge hardware, artificial intelligence, and user-friendly design to create smart home products designed to enhance electricity systems.
Addressing the critical gap between energy demand and clean energy supply, Kornik noted that Plentify’s residential load management platform offers solutions at a fraction of the cost of traditional battery systems, specifically 75% less.
Over the years, Plentify has made strides in developing resilient technology solutions tailored to a wide array of energy challenges. Kailas Nair, Co-Founder and Chief Growth Officer, emphasized the importance of collaboration with local South African firms, such as Balwin and Wetility, which integrate Plentify’s technology into their solar and battery solutions to deliver affordable clean energy.
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