Ecoligo receives ten million euros

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

Ecoligo has raised ten million euros in a Series A financing round. In the process, 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, and further develop its platform.

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

"With FRV-X, we have found the perfect partner to help even more companies in emerging markets gain access to clean energy," says Ecoligo CEO Baart. "Through this alliance, we will not only be able to grow even more, but more importantly, provide more people with the opportunity to contribute to the global energy transition through private investment."