South African software company Open Access Energy (OAE) has received a $750,000 investment from Factor E Ventures, part of a $1.5 million seed round.
The funding will support the development of OAE’s platforms, Amptera and Energypro, which optimize energy transactions for Independent Power Producers (IPPs) and municipalities. OAE aims to tackle South Africa’s energy challenges with real-time solutions and plans to use the investment to enhance its technology and expand its market presence domestically and internationally.
Gerjo Hoffman, CEO of Open Access Energy, emphasized the importance of the funding from Factor E Ventures, saying it is timely for both the company and South Africa’s energy sector. He noted that this investment will help speed up their innovations and expand their market presence as they work to decentralize energy and provide clean power access to all South Africans.
This investment will allow Open Access Energy to scale operations, introduce new features, and strengthen its position in the evolving energy landscape.
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