Koolboks
Overview
Koolboks is a cleantech startup founded in 2018, dedicated to providing sustainable refrigeration solutions through solar-powered freezers. Based in Paris, France, Koolboks focuses on regions across Africa where access to electrical power is limited. The company was co-founded by Ayoola Dominic and Deborah Gaël. As of September 2025, Koolboks has successfully raised approximately $15.4 million, with the most recent Series A round securing $11 million to further expand its initiatives across the continent.
Recent Developments
- September 2025: Koolboks raised $11 million in Series A funding led by KawiSafi Ventures, Aruwa Capital, and All On to expand its cooling-as-a-service model and establish an assembly plant in Nigeria.
- April 2025: Koolboks' solar-powered refrigerator won the 2025 Start Up Energy Transition (SET) Award, recognizing its excellence in sustainable energy solutions.
- January 2025: Koolboks shared its focus for the year 2025, emphasizing its commitment to expanding its eco-friendly cooling solutions and enhancing sustainability, reflecting on its achievements in 2024.
- 2024 Highlights: Koolboks expanded its KoolBuy platform to facilitate solar products purchase through flexible payment options, aiming to make sustainable refrigeration solutions more accessible.
- Partnerships and Pilots: Koolboks collaborated with major brands like Coca-Cola and conducted pilot programs to support distribution networks, highlighting the broadening scope of its operational footprint.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Paris, France |
| Founders | Ayoola Dominic, Deborah Gaël |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | KawiSafi Ventures, Aruwa Capital, All On, FFEM, Bpifrance |
| Industry | Electrical Equipment |
| Number of Employees | 194 |
Early History
Koolboks was established in 2018 with the goal of revolutionizing access to refrigeration, especially in off-grid areas. It initially targeted European campers before pivoting to African markets, addressing the significant challenge of unreliable electricity in rural regions. The company introduced solar-powered freezers capable of operating without grid connections, leveraging ice battery technology for enhanced energy storage. This approach reduced the overall cost of cooling by 40% compared to traditional methods. Early on, Koolboks secured initial funding that allowed expansion into multiple African nations and collaboration with aid and development agencies to maximize its social impact.
Company Profile and Achievements
Koolboks operates by providing solar-powered refrigeration units designed to function in off-grid settings. The company's primary product is its solar freezer, which uses a unique ice battery system for energy storage, allowing cooling for up to 72 hours without sunlight. Koolboks implements a Pay-As-You-Go (PAYGO) financing model, making its products affordable for low-income communities. Its key achievements include:
- Scaling operations to over 25 countries, with significant sales in Nigeria, Côte d’Ivoire, and Senegal.
- Winning the prestigious 2025 SET Award for innovative sustainable solutions.
- Developing innovative financing platforms such as KoolBuy, which promotes economic freedom by offering flexible payment terms.
- Introduction of programs like Scrap4New, a sustainability initiative aimed at recycling defunct freezers into refurbished units.
Current Operations and Market Position
Koolboks currently operates with its core mission of making refrigeration accessible in areas with limited electrical access. By 2025, it has deployed over 10,000 freezers, contributing significantly to reducing food waste and preserving the integrity of vaccines. Koolboks distinguishes itself with a PAYG model and IoT technology that enables real-time monitoring. The company has strategic plans to expand into five additional countries within Africa by leveraging recent funding and its scalable business model. Its market approach focuses on empowering micro-entrepreneurs, particularly women, thus aligning with global sustainability goals.
Conclusion
Koolboks stands out as a pivotal player in the domain of sustainable refrigeration, particularly across Africa. Through its innovative solutions, it addresses critical infrastructure needs while empowering communities economically. Looking ahead, the startup is poised to continue expanding its footprint and product offerings. With its solid commitment to technological advancement and sustainability, Koolboks is expected to remain influential in reshaping the cold storage landscape, offering essential services that are both eco-friendly and economically viable for underserved regions.