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10 August 2022



TEMPLARS advised Seedstars Africa Ventures, Lead Investor on a $2.7 million seed round for Beacon Power Services (BPS).

This funding round also had Persistent Energy, Factor[e], Kepple Africa Ventures and Oridun Capital Management as investors.

BPS is an energy tech company based in Lagos, Nigeria helping Africa’s power sector distribute electricity more efficiently with its data and grid management solution, Adora. Adora connects to every utility asset and customer node on the grid, allowing energy providers to pre-empt outages, identify network losses, and distribute electricity more efficiently.

The deal will provide BPS with the financial capacity to efficiently manage its energy software business,  enhance power production and support the growth and expansion of its operations beyond the shores of Nigeria and Ghana by leveraging Seedstars’ network in 25 African countries and 10-years presence on the continent, as well as by fostering partnership opportunities with its corporate partners.

Seedstars Africa Ventures is an early-stage venture capital fund investing in high-growth companies active across Sub-Saharan Africa.

The TEMPLARS team was led by Energy and Projects Partner, Dayo Okusami, supported by Senior Associate, Moses Pila and Associates, Ojuolape Kalesanwo and Kechikamma Omehia.