Rana Energy
Overview
Rana Energy is a Nigerian startup founded in 2023 by engineers Abraham Mohammed and Mubarak Popoola. The company has developed an AI-powered platform for clean energy, operating on a "Clean Energy-as-a-Service" model. Rana Energy provides solar and battery storage systems to businesses on a subscription basis, dramatically reducing dependency on diesel generators. As of October 2025, the company has successfully raised US$3 million in pre-seed funding to expand its operations across Africa, with a focus on scaling its asset base and entering new markets.
Recent Developments
- October 2025: Rana Energy raised $3 million in pre-seed funding from investors including Techstars, EchoVC Eco, and MAX co-founders. This funding consists of $500,000 in equity and a $2.5 million green debt facility, arranged by Optimum Global and backed by FSDH Asset Management (source).
- Expansion Plans: The company plans to expand its Virtual Solar Network (VSN) to a 10 MW capacity within the next year. It aims to increase its market presence in Ghana and Zambia, targeting various sectors including hospitals, supermarkets, and industrial facilities (source).
- Operational Achievements: Since its inception, Rana Energy has deployed about 1.3 MW of solar and storage capacity across Nigeria, achieving 99.9% operational uptime. This initiative has reduced diesel reliance by over 80% and cut energy costs by up to 30% for its clients (source).
- Technological Innovations: The VSN platform aggregates distributed solar and battery systems into bankable portfolios, using AI to forecast energy demand and manage these assets remotely, promoting efficiency and reliability (source).
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2023 |
| Headquarters | Nigeria |
| Founders | Abraham Mohammed, Mubarak Popoola |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Techstars, EchoVC Eco, Chinedu Azodoh, Tayo Bamiduro |
| Industry | Renewable Energy, Clean Tech |
| Number of Employees | Not publicly disclosed |
Early History
Founded in 2023 by engineers Abraham Mohammed and Mubarak Popoola, Rana Energy was established to address Africa's energy challenges, particularly the continent's dependence on diesel generators. The founders, focusing on integrating renewable energy through advanced technology, developed the Virtual Solar Network (VSN), a digital platform employing AI for energy management. The startup saw rapid deployment of its services, installing 1.3 MW of solar capacity in Nigeria within 18 months, convincing investors of its scalable model. Initial investor interest focused on the blend of clean energy applications and AI, leading to significant backing from Techstars and EchoVC Eco.
Company Profile and Achievements
Rana Energy operates primarily within the renewable energy sector, leveraging a business model centered on "Clean Energy-as-a-Service." The company's major achievement lies in the deployment of its AI-powered Virtual Solar Network, which aggregates and manages solar and battery storage assets. Key milestones include:
- 2019-2023: Development and conceptualization of the Virtual Solar Network.
- 2023: Official launch and operational commencement in Nigeria.
- 2024: Achieved a major milestone by deploying 1.3 MW of energy capacity with unprecedented uptime and cost savings.
- 2025: Secured $3 million in pre-seed funding to boost clean energy deployment across Africa.
- Future Plans: Expand its renewable energy capacity to 10 MW across Nigeria, Ghana, and Zambia.
Current Operations and Market Position
Rana Energy currently stands as a pioneering digital utility in the African clean-tech ecosystem, focusing on providing solar energy solutions to businesses and communities. By eliminating upfront costs and leveraging AI for smarter energy management, Rana Energy offers a unique value proposition to its clients. The company’s market position is bolstered by its innovative subscription model and strategic expansion plans, aligning with the growing global shift towards renewable energy and sustainable practices.
Conclusion
Rana Energy represents a significant advancement in Africa's renewable energy landscape, combining artificial intelligence with clean energy to offer scalable, cost-effective power solutions. The company's rapid growth and impressive funding ventures underscore its potential to address the continent's broader energy challenges. As the company expands into new African markets, it is poised to transform energy accessibility and reliability in regions dependent on archaic power infrastructures, setting a sustainable precedent for future energy transitions.