Ecoligo receives ten million euros

Via the Ecoligo platform, private investors can co-finance solar plants in emerging countries and share in the returns. Investor FRV-X is now supporting the start-up.

Ecoligo has raised ten million euros in a Series A financing round. Fotowatio Renewable Ventures has joined as a new investor via its venture division FRV-X. Ecoligo intends to invest the capital from the financing round in its growth, expand its existing markets and open up new ones, as well as further develop its platform.

Founded in 2016 by Martin Baart and Markus Schwaninger, the company specializes in solar projects. Private investors can use the platform to invest in plants that supply companies in emerging countries with sustainable electricity. Ecoligo also takes care of the planning, construction and maintenance of the solar plants. To date, the start-up has 169 projects under contract in eleven countries, including Vietnam, Kenya, Chile, Uganda, the Philippines and Nigeria.

"In FRV-X, we have found the perfect partner to give even more companies in emerging countries access to clean energy," says Ecoligo Managing Director Baart. "This alliance will not only enable us to grow even more, but above all will give more people the opportunity to contribute to the global energy transition through private investment."