Bamboo Finance backs Greenlight Planet in $4m round

The current round follows earlier investments by Sinha. Keith Allman, investment manager of Bamboo Finance, will join on the company's board of directors, according to a company's statement.

Greenlight Planet supplies solar-powered lanterns to villagers in rural India and Africa through local community networks. It aims to replace kerosene lamps as the dominant indoor light source for the people living without reliable access to an electricity grid.

The new investment will be used to expand Greenlight's business in India, grow its global partnerships and innovate the next generation of low-cost energy products specifically designed for rural consumers.

Commenting on the investment, Allman said: "With our prior experience in investing in rural electrification companies, we found that Greenlight Planet developed a remarkable business model, which entails the production of high quality products as well as a unique and scalable distribution method to maximize market penetration."

Bamboo Finance manages $250 million, with a portfolio of direct investments around the world. The investment firm specializes in the financing of social entrepreneurship globally with a market-oriented approach to deliver social value, environmental value and financial returns to investors.

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• Topics
• South Asia
• Investments
• Cleantech
• Expansion
• India
• Bamboo Finance
• Cleantech
• Growth capital