Solarbox and Socium announce a $5 million and $1 million USD round of financing.

I&P is proud to announce a major step in the development of two of its portfolio companies, Socium and Solarbox, which have just successfully raised strategic funds. These operations mark a decisive turning point for these innovative companies, which are committed to accelerating access to sustainable energy and digital solutions for African populations.

New trends for JobTech and E-Mobility in Senegal

Founded by Samba Lo, Socium is a Senegalese startup that publishes HR solutions tailored to African companies. The company has been financed by I&P since 2022 through I&P Accélération Technologies, a program that contributes to the emergence of the first African digital startups. Find out more about the company.

Founded by Tijan Watt and Wurri Ventures, Solarbox is a pioneering startup leading the B2B electric mobility revolution in West Africa, using locally assembled electric vehicles and solar charging stations (made from converted port containers) to help African businesses embrace the green transition while reducing costs. I&P is supporting this company in its growth project through I&P Digital Energy, a program financed by the European Union and implemented by the French Development Agency, contributing to the growth and innovation of start-ups and SMEs operating in the energy sector. Find out more about the company.

A realization of the program's leverage potential

Through financial and technical support, these two seed programs provide beneficiary companies with the resources they need to mature and raise additional funds.

The fund-raising activities of Solarbox (US$1 million with a round of financing comprising I&P in collaboration with Gaia Impact Fund and Teranga Capital, Launch Africa, JLL Foundation) and Socium (US$5 million with Breega, Partech, Chui Ventures, Orange Ventures, Sonatel, Outlierz, Super Capital, DNA and individual investors such as Mossadeck Bally and Hassan Bourgi) confirm the potential of acceleration program leverage.

“Local innovation and sustainable solutions are key levers for meeting energy and digital challenges on the African continent. These fundraisings also demonstrate the growing attractiveness of this type of African company to investors, who are ready to support high-impact models.” 

Caty Diokhané, Head of I&P Accélération Technologie and I&P Digital Energy

By providing financial support to economic players and companies such as Socium and Solarbox, I&P is reaffirming its role as a catalyst for innovation in energy access and digital technology on the African continent.