Powerhive Completes $20 Million Series A Financing Round

On January 25, 2016, Powerhive, a Berkeley-based energy solutions provider for emerging markets, announced that it has closed a $20 million Series A round of financing led by Prelude Ventures, with participation from Caterpillar Ventures, Total Energy Ventures, Tao Capital Partners, Pi Investments, and other select private investors. Wilson Sonsini Goodrich & Rosati represented Powerhive in the transaction.

According to Powerhive's press release, the new financing will be used to support the company's expansion into new markets in Africa and the Asia-Pacific region, including Kenya, where the company has operated rural microgrids since 2012. The financing round comes on the heels of a January 2016 announcement that Powerhive received an $11 million equity investment in the company's flagship micogrid project, which will eventually serve approximately 90,000 people in western Kenya.

The WSGR team that advised Powerhive included Bob O'Connor, Wendy Knobel, and Shea Loewen.

For more information, click here to read Powerhive's press release.