Azuri Technologies
Azuri brings power to off-grid customers in rural emerging markets, combining solar and mobile technology to provide pay as you go access to power at scale..
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | £217k | Grant | |
| Total Funding | 000k | ||
| GBP | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 251 % | 46 % | 15 % | 7 % | (86 %) | (16 %) | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (36 %) | (35 %) | (45 %) | (14 %) | (106 %) | - | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (32 %) | (40 %) | (50 %) | (48 %) | (953 %) | (287 %) | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Azuri Technologies operates as a commercial provider of pay-as-you-go (PAYG) solar home systems, primarily targeting the 600 million off-grid consumers in sub-Saharan Africa. The company was established in 2012 as a spinoff from Eight19, a UK-based technology firm that developed and patented the core pay-as-you-go technology. The venture is led by CEO and founder Simon Bransfield-Garth, a serial entrepreneur with a background in engineering and over 25 years of experience in building technology businesses, including a leadership role at the mobile OS creator, Symbian.
The business model addresses the high upfront cost of solar power, a significant barrier for rural households. Customers pay a small installation fee for a solar home system and subsequently make small, regular payments via mobile money or scratchcards to unlock energy access. This model often prices the weekly top-ups up to 50% lower than the typical household spending on kerosene and phone charging. After a period of about 18 months, the customer owns the system outright, gaining access to free energy thereafter. This revenue structure is complemented by debt financing secured against future customer payments, enabling rapid scaling. The company also generates revenue from the sale of devices, installation, maintenance services, and has received support from grants and financial incentives.
Azuri’s product line includes solar home systems that power LED lights, mobile phone charging, and rechargeable radios. More advanced packages feature solar-powered televisions with access to over 60 channels through partnerships with broadcasters like DStv. A key feature is the proprietary HomeSmart™ technology, which uses machine learning to analyze a customer's power usage patterns and adapt energy output based on climatic conditions, ensuring a reliable power supply. The company operates through a network of local distribution partners in countries including Kenya, Nigeria, Zambia, Tanzania, and Uganda, which handle sales, installation, and service, ensuring a localized customer experience.
Keywords: pay-as-you-go solar, off-grid energy, sub-Saharan Africa, mobile payments, solar home systems, rural electrification, financial inclusion, renewable energy, clean technology, energy access