ZOLA Electric
566 employees on LinkedIn · 6 known investors
Solar and battery energy company selling PAYGo home and business power systems across Africa and other emerging markets.
Also known as Off Grid Electric · Off-Grid Electric · Zola Electric
Investors · 6
Also in the syndicate · 3
Company profile
researched Aug 2026ZOLA Electric, founded in 2011 as Off-Grid Electric and later rebranded, designs distributed renewable energy solutions built on solar, battery storage and power electronics for residential and business customers who have either no grid connection or an unreliable one. Its systems are sold on a lease-to-own or PAYGo basis, with customers making an initial deposit and then paying the balance in installments, typically through mobile money, which lowers the upfront cost barrier for households and small businesses.
The product line evolved from single solar home systems toward what management describes as an "energy ladder" of connected products addressing off-grid and on-grid, rural and urban, and residential and commercial segments. In 2020 the company launched Infinity, an intelligent battery platform that integrates with any energy source — grid, solar or battery — and powers connected loads directly rather than acting as a backup system. Hardware is managed by Vision, a SaaS software layer providing customers with data, analytics and remote control of their systems; the company characterizes the combination as a modular, integrated platform purpose-built for the energy access sector. Products reach end customers both directly and through integrators and developers including EDF, Shell, Econet/DPA and Nigeria-based Blue Camel.
An affiliated venture, ZOLA Intelligence (ZOLAi), was founded by Bill Lenihan in 2023 out of Off Grid Electric/ZOLA Electric, offering an AI-enabled enterprise technology platform combining a hardware stack with control, data and software layers for Energy-as-a-Service providers.
Founding story
The company was launched in 2011 by Erica Mackey, Xavier Helgesen and Joshua Pierce, initially providing solar home solutions to off-grid rural communities in Tanzania. Helgesen, previously a founder of Better World Books, took the CEO role, with Mackey as COO and Pierce as CTO. Bill Lenihan joined as CEO in 2015 and led the shift from a consumer-facing solar provider toward a distributed energy technology platform.
Business model
ZOLA Electric designs and sells solar power and battery systems to households and businesses, offering them on a lease-to-own/PAYGo basis financed through micro-finance leasing and mobile money payments. Revenue comes from system sales, recurring customer installments, and installation and maintenance services, complemented by distribution partnerships with local businesses, integrators and developers.
Upfront deposits plus recurring installment or monthly payments for solar home and business systems, alongside outright system sales, service and maintenance fees, and sales through partner distribution channels. The Vision SaaS layer is offered as the management software for deployed systems.
Traction
The company reported delivering energy to approximately 1.5 million users across more than 10 countries as of September 2021, with over 300,000 homes and businesses using its products, including more than 180,000 homes and businesses in Tanzania. Cumulative funding through 2021 stood at $155 million in equity with a $45 million debt balance.
Latest developments
In September 2021 the company closed a $90 million combination of equity and debt, led on the equity side by TotalEnergies Ventures with DBL Partners, Helios Investment Partners, Vulcan Capital, Electron Capital Partners and SolarCity founders Lyndon and Pete Rive, with debt from FMO and SunFunder, earmarked for next-generation hardware and software and expansion in Africa, Asia and Latin America. Bill Lenihan founded ZOLA Intelligence in 2023 out of the ZOLA Electric business, and Helios Investment Partners records an exit from its ZOLA Electric investment in June 2025.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Described as a market-leading provider of solar-powered electricity solutions for customers on unreliable or non-existent grids, and as a leading energy access technology company. It competes in the distributed renewable energy segment alongside Bboxx, Sun King and d.light.
Management positions ZOLA as primary power rather than a backup system, contrasting its integrated, modular and intelligent platform with the poorly integrated diesel generators, lead-acid batteries and inverter-based backup solutions common in its markets, and pairing hardware with the Vision software layer for data, analytics and control.
Technology
Solar generation, battery storage and power electronics packaged as intelligent batteries that integrate with any energy source — grid, solar or battery — to power connected loads as primary rather than backup power. The Infinity product, launched in 2020, connects to and digitally controls loads in a home or business. Vision, the company's SaaS system, provides remote data, analytics and control of installed systems, forming what the company describes as a modular, integrated platform for the energy access sector.
Go-to-market
Direct sales supported by on-the-ground personnel for installation and servicing, combined with distribution through integrators, developers and corporate partners such as EDF, Shell, Econet/DPA and Blue Camel in Nigeria, plus partnerships with local businesses and organizations.
Residential customers and small and medium businesses in markets with no grid access or unreliable grid supply, spanning rural and urban and off-grid and on-grid segments, in a sector the company sizes at roughly 2.2 billion people lacking reliable, affordable energy.
Geography
Operations began in Tanzania and extend across Africa, including Ivory Coast, Ghana, Namibia, DRC, South Africa, Zambia, Nigeria and Rwanda, with presence also in the United States, Brazil, Pakistan and the Philippines; more than 10 countries in total, with stated plans to expand further into Northern Africa, Asia and South America.
History
Founded in 2011 in Tanzania as Off-Grid Electric, the company attracted early institutional backing and later rebranded as ZOLA Electric. Helios Investment Partners invested $10 million in Off-Grid Electric in August 2016 and subsequently led a Series D funding round in January 2018; a Series D equity round of $55 million is reported for 2018. In September 2021 the company closed a $90 million round split evenly between equity and debt, after which it stated it had raised $155 million in equity with a total debt balance of $45 million. Product development moved from solar home systems to the Infinity intelligent battery platform launched in 2020 and the Vision SaaS management layer. Helios recorded an exit from the investment in June 2025.
Risks & controversies
The company operates in markets exposed to currency volatility, including Nigeria and Tanzania. Its CEO noted that scaling is constrained by the need for on-the-ground personnel, developers, integrators and distributors, and that customer numbers have grown more slowly than the capital raised might suggest; the company declined to disclose a valuation for the 2021 round and stated it was not a down round relative to the 2018 Series D.
Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 5
launches, deals, and filingsHelios Investment Partners lists June 2025 as the exit date for its investment in the company.
Bill Lenihan founded ZOLA Intelligence (ZOLAi) in 2023, built out of Off Grid Electric (later ZOLA Electric), offering an AI-enabled enterprise technology platform for Energy-as-a-Service providers.
Alongside its $90 million raise, the company reported presence in the U.S., Brazil, Pakistan and the Philippines in addition to multiple African markets, with plans to expand further into Northern Africa, Asia and South America.
ZOLA launched Infinity, an intelligent battery product designed to power home or office appliances while integrating with any energy source — grid, solar or battery — switching to an available source and storing energy simultaneously.
Helios Investment Partners made a $10 million investment in Off-Grid Electric, the company later rebranded as ZOLA Electric.
$10M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 7
primary sources listed
- Heliosinvestmentheliosinvestment.com · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does ZOLA Electric do?
- Solar and battery energy company selling PAYGo home and business power systems across Africa and other emerging markets.
- Who are ZOLA Electric's investors?
- ZOLA Electric's investors include Helios Digital Ventures, Zouk Capital, TotalEnergies Ventures.