Ghana-Based Kofa Bags USD 8.1 M Pre-Series A To Scale Battery Network
Summary
With over 200 daily battery swaps and a 99% charge rate, the company is positioning itself as a cornerstone of urban Africas transition away from fossil fuels. Its proprietary IoT and AI platform enables predictive battery management, ensuring energy availability in real time.The raise stands out for its strong local backing. Injaros investment draws from Ghanaian pension funds, underscoring a shift toward locally sourced capital in Africas energy transition. European battery expert Richard Thwaites, founder of Penso Power, also joined the round as an investor, signalling confidence from seasoned international players.Kofas growth strategy goes beyond product deployment. The company licenses its IP, designs market-specific products, and adopts an asset-light model backed by a Special Purpose Vehicle (SPV) to fund infrastructure like swap stations.With Africas urban centres grappling with energy reliability and generators supplying up to 40% of power in some regions, Kofas model offers a scalable, tech-enabled alternative.