Energy Startup Pawame Secures $2.5 Million in New Funding
Solar power startup and former Woden client Pawame has secured $2.5 million in funding ahead of a Series A Funding round.
The $2.5 million in grants and equity will help the UAE-based Pawame continue its goal to bring solar-powered electricity to more than 580 million people in sub-Saharan Africa.
Pawame teamed with Woden to define its story and align the entire organization behind its unique purpose. Over the course of the partnership, Woden developed a StoryKernel that defined Pawame as a transformative force for its customers, providing not just clean energy for households and businesses that exist off the grid, but financial stability for those often overlooked by financial institutions.
Armed with a unique StoryKernel and actionable insights from Woden, Pawame has positioned itself as a premium product, offering not just high-quality products but also strong after-sales support.
“Despite facing challenges during the pandemic, Pawame delivered exceptional results in 2020, including achieving bottom-line profitability and positive cashflow for the first time,” said Alexandre Allegue, chairman and co-founder of Pawame, in an interview with The National.
This latest funding diversified Pawame’s investor pool ahead of a $5 million early Series A funding round.
Woden congratulates Pawame on its continued success in its mission to bring power to those who need it.